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March Brent rebound stalls ahead of $79 and falls back towards $78
Oil prices are off their worst levels of the day just now. Earlier the price of Brent for March delivery fell back to a low at $77.55 per barrel. Brent had settled $0.21 higher on the NYMEX exchange on Friday, at $78.50. The rebound off the lows today saw it lift very close to $79.00 per barrel. It has fallen back over the past hour and it is approaching the $78 per barrel mark. At this point the reader is advised; that this contract will expire later this week, on January 30. After that we will be trading the April contract and that is around $1 lower, due to the market being in what is known as Backwardation. Brent for March delivery is right now at $78.02
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US stock markets open lower this afternoon- check out the S+P 500 futures
The US stock markets have just reopened and it has been an across the board lower start to the session. The Nasdaq 100 has just kicked off at 19,657...
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Gold rises above technical resistance to set a new record high this afternoon
Since the last update here on Gold, the metal has now tested and taken out the noted trend line resistance level, in place around $3,029 per ounce...
