Brent Oil Hits Over $ 40 A Barrel

Brent Oil Hits Over $ 40 A Barrel Brent oil hits over $ 40 a barrel. Today, a barrel of Brent oil is trading at $ 40.75 in global markets. The barrel price of Brent oil, which dropped to $ 39.37 yesterday, closed the day at $ 40.79. At around 09.08 today, the barrel of Brent oil decreased by 0.09 percent compared to the closing and is trading for $ 40.75. At the same time, a barrel of West Texas type crude oil (WTI) traded at $ 37.95.   According to the projections of the American Petroleum Institute (API), the commercial crude oil stocks of the USA have increased by approximately 3 million barrels. This data caused crude oil prices to decline, as it means that oil demand in the USA is decreasing. On the other hand, due to the approaching date of seasonal periodic maintenance works of oil refineries all over the world, crude oil purchases decreased. As a result, prices were negatively affected by the excess supply in the market. It was stated that the range of $ 40.77 to $ 40.80 could be followed as the resistance zone in brent oil, and the range of $ 40.70 to $ 40.72 could be followed as the support zone.