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Brent gives up earlier gain to above $76
There was no US trading in the oil markets yesterday due to the public holiday there. So, no settlement for Brent on the NYMEX exchange. Brent last settled there on Friday, at $74.74 and it is headed back that way now. Earlier today Brent extended on the gains it notched up yesterday during the European session. April Brent rose to a high at $76.07 around 2 hours ago. However, the price has now fallen back even more steeply than it rose, taking out $75 a short while ago. The low seen was set around $74.90 and came amid fresh headlines concerning the Russian oil price cap. There is nothing more concrete on that at this stage, but moreover it looks like sellers emerged in decent size above that $76 handle today. Brent for April delivery is right now at $75.15
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