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Brent on the slide again
As covered in updates here yesterday, the rebound off the lows around $76.30 in Brent crude was likely to run into sellers again. Well, that is what it is doing again this morning- falling back. Brent had settled $0.41 higher on the NYMEX exchange yesterday evening, at $77.49. Earlier today the price topped out around $77.70 and since then it has been falling back and dropping back quite hard just now. Brent has not yet taken out the low seen yesterday, but it is not far off doing that now. As mentioned yesterday, the March contract will expire tomorrow and that could be one reason for the fresh selling this morning. Brent just hit a session low a moment ago, at $76.67
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