Brent on the rebound towards $75 again

This is not exactly fresh news, but OPEC+ have agreed to delay a planned output cut, putting that decision back for at least another month. Of course this is all about price manipulation as always from the cartel. So, perhaps it is also no surprise to see that oil prices have lifted following this decision. The price of Brent crude for January delivery rose on Friday and lifted very close to the $75 handle, as was covered here in an update around that time. The slide that followed came later on the session, as it fell back towards $73 per barrel. Brent for January delivery still settled slightly higher on the NYMEX exchange, ending that session $0.29 higher, at $73.10. The price action so far today has seen Brent gap open higher on the Asian opening following this OPEC+ decision. The high seen so far today has been set not long ago at $74.84. Perhaps, if it can rise above $75 this morning, it might extend a bit more, but we shall see on that. Brent for January delivery is currently trading at $74.82