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Brent lifts above $75 as Middle East tensions increase
Following on from the previous update noting the fall in stocks and the rise in the dollar, the oil price has risen accordingly too. That is perhaps proof that for the markets, the supply side risks any escalation in the Middle East may yet have. Of course this is a knee-jerk reaction to the news and that could easily be reversed, if that news proves to be erroneous. Over and above that though, the reaction across all the financial markets right now is clear evidence the markets are a little nervous. So, Brent for December delivery has risen to fresh session highs a short while ago. Brent settled $1.23 higher on the NYMEX exchange last night, at $74.29. Earlier today the price fell back to a low at $73.58. It has since lifted to a high at $75.05 . However, it has stepped back from that just now, currently trading at $74.85
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