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Buy the rumour sell the fact for Brent crude this morning
As covered here at the time on Friday, Oil prices were again on the rebound heading into the weekend. Brent crude for June delivery rose to a high at $92.18 just ahead of the 4pm London FX fix. However, it was not able to hold those gains into the weekend and Brent later fell back into the final NYMEX settlement of the week. Brent settled $0.71 higher on that exchange, at $90.45. Given the events seen in the Middle East since, oil prices have not actually gained yet today and perhaps because; so far that has been contained is a reason for that? The range seen in June Brent so far today has been covered by $89.77 to $90.95. It is currently trading at $90.04
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