The Brent oil price rose 2% overnight to $49.24. In the context of wider market hysteria this was pretty disappointing and the chart technicals are quite unresolved:
The symmetrical triangle around $48 is showing a confused market and could go either way in the short term as the three forces of oversupply and its shakeout, fading growth and Fed delays fight it out.
The news flow was also confused with Russia set to meet OPEC, from CNBC:
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