Brent Oil Hovered Above $41

Brent Oil Hovered Above $41 Brent oil has hovered above $41 a barrel. Today, a barrel of Brent oil traded at $ 41.68 in global markets. The barrel price of Brent oil, which dropped to $ 41.45 on Wednesday, closed the day at $ 41.73. At around 09.27 today, the barrel of Brent oil fell 0.11 percent compared to the closing and traded at $ 41.68. At the same time, West Texas type (WTI) crude oil was traded at $ 39.95 a barrel. Continuing uncertainties regarding the pandemic stimulus package in the USA played a role in the decrease in prices. In addition, the uncertain image of the American economy in the "Beige Book" report of the US Federal Reserve (FED) raised concerns about oil demand and had an impact on the decrease in prices. On the other hand, the fact that Libya starts production and puts 500,000 barrels of oil per day into the market negatively affects prices due to the concern of excess supply. In technical terms, it is said that the range of $ 42.69 and $ 41.66 can be followed as the resistance zone in brent oil, and the range of $ 41.10 and $ 40.48 can be followed as the support zone.