Brent rally stalls again

Earlier today we noted how the oil markets had reacted to all the weekend news and that had sent Brent crude sharply higher. At the time of that previous update the price of September Brent was trading at $79.29 and it did subsequently set a session high around $79.80. Well, since then it has turned back down again and traded as low as $77.35 a short while ago. 

That in turn has helped to dent the dollar and lift European stocks and US futures, with some trading back in the green just now. So, once again we can see how the oil price dynamic continues to call pretty much all the shots across the wider markets. Brent crude for September delivery is currently trading at $77.37
 

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