Barrel Price of Brent Crude Oil Declined

Barrel price of Brent crude oil declined on September 17. Today in global markets, a barrel of Brent oil is priced at $75.34.

Brent oil, which went up to $ 75.77 yesterday, closed the day at $ 75.67. The barrel of Brent oil, which decreased by 0.43 percent compared to the closing at 09:44 am today, is trading at $ 75.34. At the same time, West Texas Intermediate (WTI) crude oil was traded at $72.22 a barrel. The drop in oil prices played a role in the dollar index in global markets, the highest level of the last three weeks. The International Dollar Index, which measures the value of the US dollar against the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc, rose as high as 92.94 yesterday. As a result, this increase made dollar-denominated oil more expensive for buyers using other currencies and put pressure on prices. However, the slower-than-expected recovery of oil supply in the Gulf of Mexico, which was interrupted by Hurricane Ida in the USA, the world's largest oil producer, came to the fore as a factor limiting the downward movements of prices. The Security and Environmental Enforcement Administration of the U.S. Department of the Interior also stated that approximately 28 percent of oil production and 39 percent of natural gas production in the Gulf of Mexico are still closed. In technical terms, it was stated that the range of $75.86 to $75.99 can be viewed as resistance and the range of $75.29 to $75.16 as support in Brent oil.