Barrel of Brent Oil Exceeded $ 45

Barrel of Brent Oil Exceeded $ 45

Brent oil has exceeded $ 45 a barrel. The barrel of Brent oil was traded at $ 45.71 in global markets. The barrel price of Brent oil, which declined to the level of 44.29 dollars yesterday, closed the day at the level of 45.13 dollars. According to the data recorded at 09:15 today, the barrel of Brent oil, which increased 1.2 percent compared to the closing, found buyers at $ 45.71. At the same time, West Texas type (WTI) crude oil was traded at $ 42.57 a barrel. Oil prices started rising on Tuesday, with news that the firsr phase I trade agreement between the US and China would resume. The Ministry of Commerce of China on the subject also announced that the two countries carried out a "constructive dialogue" and agreed to ensure the implementation of the Phase I trade agreement. Storms in the US Affected Oil Production Badly The storms that broke out in the USA badly affected oil production. Hurricane Marco and Storm Laura brought crude oil production in the Gulf of Mexico to a near halt. In the statement made by the Security and Environmental Implementation Administration (BSEE), affiliated to the US Department of Interior, it was reported that oil and natural gas production fell 82.2 percent due to the storm. On the other hand, positive developments regarding coronavirus (Covid-19) treatment positively affected oil prices. In technical terms, analysts stated that the range of $ 45.72 and $ 45.78 can be followed as the resistance zone in Brent oil, and the range of $ 45.61 and $ 45.56 can be followed as the support zone.