ICE Brent moves above $50/b on technical rebound

摘要

New York—Crude futures rose Tuesday, pulling ICE August Brent up 65 cents to $50.12/b, as technical buying emerged flipping the market into positive territory where the oil complex held through the settle. ICE August Brent touched $49/b at one point Tuesday, marking the third straight session that support has emerged around that level. Front-month ICE Brent traded just above its Bollinger Band lower limit since Friday, which may have invited some buyers interest among traders who saw the downturn as having become overextended.