Brent Oil Barrel Price Is Above $42

Brent Oil Barrel Price Is Above $42 Barrel price of Brent oil is above $42 a barrel. Today, in global markets, brent oil traded at $ 42.41 a barrel. The barrel price of Brent oil, which rose up to $ 43.49 on the last trading day of last week, closed the day at $ 42.85. At 09.27 today, the barrel of Brent oil, which decreased by 1.03 percent compared to the closing, traded at $ 42.41. At the same time, West Texas type (WTI) crude oil traded at $ 40.17 a barrel. In the decline in oil prices, the loss of effect of the Delta hurricane in the region and the resumption of energy companies in the Gulf of Mexico, where 17 percent of the US crude oil production was made, played a big role. The fact that the strike, which started in Norway on 30 September and threatened to decrease oil and natural gas production in the country by about 25 percent, ended with the agreement reached on Friday between the parties also supported the decrease in prices. On the other hand, the number of oil rigs, which are considered as an indicator for the short-term crude oil production of the USA, increased by 4 last week compared to the previous week. This means that the country's crude oil production will increase and there will be excess supply in the oil market, which is suffering from demand. In technical terms, it is stated that in Brent oil, the range of $ 42.55 and $ 42.67 can be followed as the resistance zone and the range of $ 42.43 and $ 42.31 can be followed as the support zone.