Brent Oil Hits Above $ 51

Brent Oil Hits Above $ 51 Brent oil hits above $ 51. In global markets today, brent oil has been traded at $ 51.37 a barrel. The barrel price of Brent oil, which saw $ 51.77 on Thursday, closed the day at $ 51.24. The barrel of Brent oil, which increased by 0.25 percent compared to the closing at 09.36 today, traded at $ 51.37. At the same time, West Texas type (WTI) crude oil traded at $ 48.30 a barrel. Yesterday, the agreement between the European Union (EU) and Britain in the deal negotiations that will determine post-Brexit trade relations played a role in the slight rise in prices. On the other hand, the start of the distribution of the coronavirus vaccine instilled optimism in the markets and affected the price increase. Vaccines developed by BioNTech and Pfizer against coronavirus (Covid-19) and approved by the EU Commission with the recommendation of the European Medicines Agency (EMA), began to be distributed to EU member countries. In addition, the risk of mutation in the coronavirus epidemic has put a barrier to the rise of the prices, raising concerns that global oil demand will decrease. UK reported that a type of coronavirus that is 70 percent more infectious was detected last week, which led more than 40 countries to ban travel to the UK, including Germany, France, Turkey, Russia, India and Brazil. In addition, the continuing uncertainties regarding the economic support package in the US has been another factor limiting the rise in prices. In technical terms, it was stated that in Brent oil, the range of $ 51.41 and $ 51.49 could be followed as the resistance zone and the range of $ 51.16 and $ 50.99 as the support zone.