Barrel Price of Brent Oil Slightly Increased

Barrel Price of Brent oil slightly increased. Today, a barrel of Brent oil traded at $ 55.13 in global markets.

The barrel price of Brent oil, which reached the level of $ 56.59 on Thursday, closed the day at $ 55.10. At around 09:46 am today, the barrel of Brent oil increased by 0.05 percent compared to the closing and traded at $55.13. At the same time, West Texas type (WTI) crude oil traded at $ 52.20 per barrel. Oil prices seem to be in search of balance due to the detection of the mutation of the new type of coronavirus (Covid-19) in South Africa in the USA, delays in vaccine supply, additional production interruption to be implemented by Saudi Arabia in February along with the effect of the decline in the USA's crude oil stocks. The fact that the Organization of Petroleum Exporting Countries (OPEC) and the OPEC+ group, which consists of some non-OPEC producer countries, will reach a total cut of 8 million 125 thousand barrels in February production with the additional cut of 1 million barrels per day to be applied voluntarily by Saudi Arabia, eliminated the concerns about the excess supply in the oil markets. . On the other hand, the number of coronavirus (Covid-19) cases worldwide has exceeded 101 million. The coronavirus mutation detected in South Africa is also encountered in the USA, the high number of daily cases despite quarantine and vaccination in Israel, and delays in the supply of vaccines in many countries, especially in European countries, bringing concerns that oil demand will remain weak and prevent the rise of oil prices. is happening. In technical terms, it is stated that the range of 55.34 to 55.75 dollars can be followed as the resistance zone and the range of 54.93 to 54.52 dollars can be followed as the support zone in Brent oil.