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January Brent slides and rebounds as price action remains volatile
The oil price has recently come under pressure once more. The reason for the slide lower is not exactly clear right now, especially as US stocks open higher, but it seems to have come from comments from the Hezbollah chief, downplaying the influence of Iran over their actions. Whilst also sabre rattling, it is surely that comment from Hezbollah that has sent oil prices lower? So, the price of January Brent did extend a move above $87 earlier today. It rose to a fresh interim high at $87.80. However, it has just now slumped to below $86 once more. The low seen a short while ago was set at around $85.70. That said the price action is extremely fluid right now and it is hard to pin this one down again within $1 or two. January Brent is just now trading at $86.25 as it rebounds off that recent low
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