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Brent holds $75 and rebounds

Yesterday afternoon an update here noted how oil prices had fallen back again and that covered the drop to a low at $75.38 in the price of December Brent crude. Well, following that update the price fell back further and hit a new session low at $75.18. However, from then on it rebounded back $76 leading into the NYMEX settlement. Brent later settled $0.60 lower on that exchange, at $76.58. The price action so far today has seen it build on that rebound and rise above $77.25. The high seen earlier was set at $77.30, but it is off that high now and for the most part we could be looking at a wider $75-$80 range here for the time being. Well, at least that is what some oil market experts are telling me. Brent for December delivery is currently trading at $76.95
 

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