Brent Oil Dropped to $69 A Barrel

Brent oil dropped to $69 a barrel on December 2. Today in global markets, Brent oil is priced at $ 69.81 a barrel.

Brent oil, which went up to $ 72.87 yesterday, closed the day at $ 68.87 a barrel. The barrel of Brent oil, which recorded an increase of 1.36 percent compared to the closing at 09:10 am today, is trading at $ 69.81. At the same time, West Texas Intermediate (WTI) crude oil was traded at $66.38 a barrel. The markets turned their eyes to the meeting that the OPEC+ group will meet today to evaluate the market conditions and discuss the amount of production cuts to be implemented as of January. The decision to come out of the meeting is expected to be influential on the joint reserve sales move of major oil-consuming countries led by the USA, as well as the developments regarding the Omicron variant of the coronavirus, which caused a sharp fall in oil prices. On the other hand, concerns about the new variant and different explanations about the effectiveness of existing vaccines restrain the rise in prices. In technical terms, it was stated that the range of $ 70.20 to $ 71 can be viewed as resistance, and the range of $ 69.40 to 68.89 as support in Brent oil.