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Brent now lifts to fresh session highs above $79

The earlier dip in oil prices resultant from news reports of a potential ceasefire deal in Gaza have now been fully reversed. That was a prospect that was highlighted here earlier, when that report was shared in an update. The reason for that should be obvious and so the rebound here is not of much surprise and probably owes something to the immediate markets players getting slightly wrong-footed by that earlier modest fall. The price of Brent crude for April delivery has now rebounded to above $79 and reached a session high a short while ago near $79.20. April Brent is currently trading at $79.14

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