Brent Oil Exceeded $ 46 A Barrel

Brent Oil Exceeded $ 46 A Barrel

Brent oil has exceeded $ 46 a barrel. Today, the barrel of Brent oil traded at $ 46.38 in global markets. The barrel price of Brent oil, which reached $ 45.08 yesterday, closed the day at $ 46.29. At 09.05 am today, Brent oil's barrel rose 0.19 percent and was traded at $ 46.38. At the same time, West Texas type (WTI) crude oil was traded at $ 43.31 a barrel. Oil prices have seen their highest level in the last five months. The fact that oil production came to a halt due to bad weather conditions in the USA had a great effect on this rise. The Security and Environment Enforcement Administration (BSEE), affiliated to the US Department of the Interior, estimated 84.3 percent of oil production in the Gulf of Mexico due to the hurricane; announced that natural gas production was reduced by 60.94 percent. On the other hand, developments regarding the trade agreement between the USA and China and positive news regarding the treatment of Coronavirus (Covid-19) positively affected the oil prices. UK-based pharmaceutical company AstraZeneca has announced that the trials of a preventive and therapeutic synthetic antibody drug against Coronavirus (Covid-19) have been started. Technically, in Brent oil, the resistance between 46.41 and 46.47 dollars; It was reported that the range of $ 46.32 and $ 46.29 can be followed as the support zone.