Brent Oil Cruised Above $81 A Barrel

Brent oil cruised above $81 a barrel on November 17. Today, Brent oil is priced at $81.97 a barrel in global markets.

Brent oil, which went up to $ 83.14 yesterday, closed the day at $ 82.43. Today, at 09:42 am, the barrel of Brent oil, which decreased by 0.56 percent compared to the closing, is priced at $ 81.97. At the same time, West Texas Intermediate (WTI) crude oil was traded at $79.27 a barrel. According to the estimation of the American Petroleum Institute, US commercial crude oil stocks increased by 655 thousand barrels last week compared to the previous week. The market expectation was that inventories would increase by 1.5 million barrels. A decrease of approximately 2.8 million barrels was observed in the country's gasoline stocks. Oil prices declined with the forecast of an increase in the crude oil stocks of the USA, the world's largest oil consumer. The decrease in gasoline stocks, which indicates that the demand is high in the country, also causes expectations in the markets that the USA will use its strategic oil reserves to combat high fuel prices, thus suppressing prices. Official oil stock data from the U.S. Energy Information Administration will be released today. In technical terms, it is stated that the range of 82.38 to 83.16 dollars can be followed as a resistance and the range of 81.60 to 80.82 dollars as a support zone in Brent oil.