Brent oil prices trading back near $85 on rising markets

Brent oil prices are trading higher on Tuesday as a rebound in Asian stock markets helped boost crude oil prices and other commodities. In London, Brent crude oil futures for June delivery was trading up 58 cents at $84.81 on the ICE Futures Exchange.

“The stock market proved that lawsuits and courts are no match for profits,” Cameron Hanover said in a report. “That took away one source of selling in oil.”

Brent oil prices have pulled back from a two day trading loss as European flight chaos gripped markets all over the world, sending prices lower. Many analysts beleive that oil prices have support around the current trading price.

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