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Brent lifts towards $92 as concerns over the Middle East rise

Since the last update here today, noting the tendency for oil prices to lift into almost every weekend later, that has certainly been the case over the past few hours. Brent for June delivery has now extended the rebound from this time yesterday afternoon. The price has come close to the $92 handle this afternoon. To repeat the dynamic- oil traders are wary of being caught short of the black stuff in case the weekend delivers a marked escalation in the Middle East situation. Tensions and concerns are riding very high right now amid further warnings from US officials regarding a possible Iranian strike on Israel. Brent for June delivery has lifted to a high so far at $91.81. It is just now trading at $91.78

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