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Brent on the rebound so far today

Yesterday afternoon oil prices were under a degree of downside pressure. That saw the price of Brent crude for August delivery drop back to a low at $81.19, just ahead of the 4pm London FX fix. However, oil prices started to rebound right after that event and that saw Brent rise above $82 per barrel and hence back above its 200 day moving average (now at 81.57). It did back off somewhat into the NYMEX settlement, where it later settled $0.29 higher, at $81.92. Prices have lifted today though and just now Brent reached a session high at $82.45. It is currently trading at $82.43
 

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