Brent for January delivery increased nearly $1.50 early Friday to trade near the $81 mark, recovering from last week’s first yearly slump below the psychological threshold of $80 per barrel. Crude oil prices this week rose amid tensions over the status of multilateral talks over Iran’s nuclear program and in expectation of production talks next week by members of the Organization of Petroleum Exporting Countries. The surprise slip into recession for the Japanese economy put a further dent on oil prices to start the week, though Chinese inflation moves pushed Brent prices higher. The Central Bank in Beijing said it was lowering its benchmark interest rate for one-year deposits by 25 points and for lending by 40 points, starting Saturday. It’s the first such move since July 2012 and comes at a […]