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No news is bad news for oil prices -check out Brent crude price range so far today
Yesterday oil prices fell back. Brent crude for June delivery stalled short of $91 per barrel and fell back below $90 heading into the 4pm London FX fix. It has not really recovered since then. Brent settled $0.96 lower on the NYMEX exchange last night, at $89.42. Once again it seemed clear; that the lack of any negative news and potential escalation in the Middle East was behind the falls yesterday and that has kept the price action subdued so far today. The range seen since the lows yesterday (around $89.25) has been very subdued by recent standards and covered by $89.41 to $89.65. Brent for June delivery is currently trading at $89.63
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