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Brent rebound today stops just short of $75
On Friday oil prices rose into the US opening. That saw the price of Brent crude for April delivery rise to $75.85. However, no sooner was the push higher over, it was reversed and that led to a slide into the wider European market close. Brent later dropped further and settled $0.28 lower on the NYMEX exchange, at $74.74. It fell further again on the Asian opening today, reaching a low at $74.19. A rebound from there took it back to test the $75 handle and that move was clearly driven by news out of the Lebanon (Israeli tanks have moved back into the region). However, so far that $75 per barrel marker has capped the rebound. The high seen has been set at $74.99. Brent for April delivery is right now trading at $74.63
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