Brent Oil Hits Over $ 41 A Barrel

Brent Oil Hits Over $ 41 A Barrel Brent oil hits over $ 41 a barrel. Today, a barrel of Brent oil in global markets traded at $ 41.91. The barrel price of Brent oil, which reached $ 43.09 on Monday, closed the day at $ 42.40. Today, around 09.30 a barrel of Brent oil, which decreased by 1.16 percent compared to the closing, traded at $ 41.91. At the same time, the barrel of West Texas type (WTI) crude oil traded at $ 39.69. Continuation of coronavirus (Covid-19) quarantine practices in European countries created concerns that global oil demand would decrease and played an important role in the decrease in oil prices. In addition, in Libya, where the Organization of Petroleum Exporting Countries (OPEC) and some non-OPEC producer countries are exempt from the current production cut agreement, the resumption and rapid increase in production brought with it an over-supply concern. Accordingly, prices were pressured downwards. In addition, positive news about the coronavirus (Covid-19) vaccine has restricted the decline in oil prices. In technical terms, it was stated that in Brent oil, the range of $ 42.02 and $ 42.22 could be followed as the resistance zone and the range of $ 41.82 and $ 41.62 as the support zone.