Brent Oil Barrel Price Fell

Brent Oil Barrel Price Fell

Brent oil price per barrel fell. The barrel of Brent oil was traded at $ 44.99 in international markets. The barrel price of Brent oil, which reached the level of 45.48 dollars yesterday, closed the day at the level of 45.37 dollars. At 09.13 am today, Brent oil's barrel decreased 0.8 percent compared to its close and traded at $ 44.99. At the same time, West Texas type (WTI) crude oil traded at $ 42.69 a barrel. At the OPEC + Group Joint Ministerial Monitoring Committee meeting, which took place yesterday, led by giant oil producers such as Saudi Arabia and Russia, slower recovery than anticipated and a second wave expectation warning in the Coronavirus (Covid-19) pandemic brought the thought of a decrease in oil demand. Oil prices were affected negatively upon this development. Warning about second wave of the pandemic, OPEC called on oil-producing countries to be on the lookout for oil market vulnerability and demand uncertainties. Also, prices were pressured downwards due to the decline in US crude oil stocks, which exceeded the estimates. US commercial crude oil stocks dropped 1.6 million barrels last week compared to the previous week. Technically, in Brent oil, the resistance in the range of $ 45.04 to $ 45.07; It is said that the range of $ 44.95 and $ 44.90 can be followed as a support zone.