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Not much of a rebound for oil prices so far today- Check out Brent crude

Late yesterday afternoon the further slide in oil prices was the subject of an update here on the Quick News. That noted the further slide in the price of Brent Crude, as it dropped to test the $73 handle. Earlier in the day Brent had risen to a high at $76.66. Brent later settled $2.79 lower on the NYMEX exchange, at $73.24, but until it had fallen below $73 first. Earlier this morning the price dipped again to $72.75. It has rebounded back above $73 since then, but that rebound does not look too convincing at this stage. I noted here yesterday, that Brent had fallen to a low at $69.86 back in May this year and the risk of that low being revisited was increasingly coming back on the radar. Whilst, not directly suggesting it will do that, the fact that Brent fell nearly $4 from top to bottom yesterday does indicate the potential is clearly not to be dismissed. Brent for February delivery is currently trading at $73.06
 

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