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Oil prices edging higher so far today -check out Brent crude this morning
Yesterday the price of Brent crude for July delivery fell to a low at $83.05. That fall seemed mostly predicated on immediate hopes of a ceasefire in Gaza. The most recent surprise build in US inventories was integral to that though. That said, in relative terms, levels neat $83 looked pretty cheap, when one considers it was only a few weeks back the price was trading north of $90 and peaked just above $91. Brent rebounded off that low yesterday and later settled $0.23 higher on the NYMEX exchange, at $83.67. It has managed to build modestly on that rebound so far today and earlier traded back above $84 per barrel. The high was set at $84.07. It is just now trading at $83.93
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