Brent still at the mercy of the headlines

The never ending flip flop price action across oil markets was in full swing again yesterday. That saw the price of April Brent rise just above $83.60 and subsequently reverse its gains, as US players returned to the markets. Brent dropped back very close to $82 per barrel and later settled $1.13 lower on the NYMEX exchange, at $82.34. It is a little higher this morning, but not yet materially so. The range seen so far today has been covered by $82.32 to $82.75. In truth, there really is not much more to add on this right now, except to state the obvious and remind you all; that this is very much a headline driven market and likely to remain that way for the foreseeable future. April Brent is currently trading at $82.48