Barrel Price Of Brent Oil Falls Down To $ 68

Barrel price of Brent Oil falls down to $ 68 on May 19. Today, a barrel of Brent oil is trading at $ 68.08 in global markets.

The barrel of Brent oil, which reached the level of $ 70.24 on Tuesday, closed the day at $ 67.91. Brent oil's barrel, which increased by 0.25 percent compared to the close at 09:57 am today, trading at $ 68.08. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 64.78. The fact that the US and Europe's coronavirus (Covid-19) epidemic restrictions started to be lifted, strengthening the expectations that oil demand will recover played a role in the fact that oil prices recorded the highest level of the last 2 months yesterday. In these countries, an increase in tourism and mobility is predicted as the epidemic measures are eased. On the other hand, the increase in epidemic cases in Asia, especially India, the world's third largest oil importer, and the concerns that the restrictions taken will adversely affect oil demand, putting downward pressure on prices. Technically speaking, in Brent oil, the resistance between 68.85 and 68.98 dollars; It is stated that the range of $ 67.85 and $ 67.80 can be followed as a support zone.