Brent Oil Hits Above $ 55

Brent oil hits above $ 55. Today, a barrel of Brent oil was traded at $ 55.13 in global markets. The barrel of Brent oil, which reached the level of $ 56.36 on the last trading day of the last week, closed the day at $ 55.99. The barrel of Brent oil, which decreased 1.54 percent compared to its closing at 9:42 am today, traded at $ 55.13. At the same time, West Texas type (WTI) crude oil traded at $ 51.68 a barrel. With the increase in coronavirus cases in China, the world's second largest oil producer, new restrictions and quarantines implemented in European countries have created concerns that global oil demand will be low and played a role in the fall of prices. On the other hand, according to the weekly data released by oilfield services company Baker Hughes, the number of oil rigs in the US increased by 8 to 275 in the week of January 2-8 compared to the previous week. This increase had an effect on the suppression of prices as it meant that there would be an excess of stock problem. In technical terms, it was stated that the range of 55.27 to 55.52 dollars can be followed as resistance and 55.02 to 55.77 dollars as the support zone in Brent oil.