Brent Oil Exceeded $ 50 A Barrel

Brent Oil Exceeded $ 50 A Barrel Brent oil has exceeded $ 50 a barrel. A barrel of Brent oil traded at $ 50.27 in global markets today. The barrel price of Brent oil, which rose to $ 51.06 on Thursday, closed the day at $ 50.25. At 09.29 today, the barrel of Brent oil, which increased by 0.03 percent compared to the closing, traded at $ 50.27. At the same time, West Texas type (WTI) crude oil traded at $ 45.94 a barrel. The positive developments regarding the new type of coronavirus (Covid-19) vaccine and the thought that oil demand will increase thanks to economic recovery steps played a role in the increase of prices. However, the fastest rise in the US commercial crude oil stocks in the last eight months, announced by the US Energy Information Administration (EIA), suppressed the rise in prices. Rice University Baker Institute Energy Analyst Jim Krane noted that the unexpected rise in the US's commercial crude oil stocks limited the upward movement of prices, which means that demand continues to decline in the country. In technical terms, it is stated that the 50.35 to 50.50 dollars range can be followed as the resistance zone and the 50.20 and 50.05 dollars range can be followed as the support zone in Brent oil.