Barrel Price of Brent Oil Increased in December 29

Barrel Price of Brent Oil Increased in December 29 Barrel price of Brent Oil increased in December 29. Today, a barrel of Brent oil traded at $ 51.12 in global markets. The barrel price of Brent oil, which rose up to $ 51.94 on Monday, closed the day at $ 50.90. The barrel of Brent oil, which increased by 0.43 percent compared to the closing at 09.40 today, traded at $ 51.12. At the same time, West Texas type (WTI) crude oil traded at $ 47.87 a barrel. Oil prices rose, finding support from the weakening dollar. However, analysts said that this rise will be limited and will act depending on the coronavirus developments. Warren Patterson, director of commodity strategy at ING Groep NV, told Bloomberg: “... the resurgent concern about the virus will limit the increase in oil in the short term, and the assumption that Russia will be in favor of an increase in production in February will not help ...” In technical terms, it was stated that the range of $ 51.25 and $ 51.39 could be watched as the resistance zone and the range of $ 51.11 and $ 50.97 as the support zone in Brent oil.