Late yesterday afternoon oil prices rose steeply from an earlier drop, that saw Brent crude for September delivery fall to $85.19. The rebound that followed delivered a $1.14 higher settlement on the NYMEX exchange, at $86.39. It has extended that recovery so far today and come close to the $87 handle not long ago. Brent has traded to a high at $86.92 this morning. The earlier low was set at $86.65, so as you can see the range has been relatively tight so far. Brent is right now close to that session high, currently trading at $86.89