Brent Oil Cruised Above $85 a Barrel

Brent oil cruised above $85 a barrel on October 26. Today, in global markets, a barrel of Brent oil is priced at $85.11.

Brent oil, which went up to $ 86.70 yesterday, closed the day at $ 85.17. The barrel of Brent oil, which decreased by 0.07 percent compared to the closing at 09:54 am today, is trading at $ 85.11. At the same time, West Texas type (WTI) crude oil was traded at $83.59 a barrel. Brent oil, which is supported by the high demand in the USA, the world's largest oil consumer, as well as the forecasts that the approaching winter season will further increase the global oil demand, continues to hold above $ 85. Although global energy prices have regressed somewhat after the Chinese government's intervention in the coal markets, they remain high around the world with the drop in air temperatures. Experts predict that the expectation that high natural gas and coal prices will encourage producers to use oil will increase prices in oil markets where supply is low. International banking and financial services company Goldman Sachs shared that the price of brent oil per barrel may exceed $90 by the end of the year due to the recovery in global oil demand, and an increase of 1 million barrels per day is expected in demand. In technical terms, it was stated that the range of $85.57 to $86.23 can be viewed as resistance, and the range of $84.91 to $84.25 as support in Brent oil.