Brent Oil Hovered Above $42

Brent Oil Hovered Above $42 Brent oil hovered above $42. In global markets today, brent oil has been traded at $ 42.62 a barrel. The barrel price of Brent oil, which dropped to $ 41.48 on Monday, closed the day with $ 42.43. The barrel price of Brent oil, which increased by 0.44 percent compared to the closing at 09.12 today, was traded at $ 42.62. At the same time, the barrel of West Texas type (WTI) crude oil traded at $ 40.31. The slight increase in prices was influenced by the expectations for incentive packages for the new type of Coronavirus (Covid-19) outbreak in the USA. After the US Treasury Secretary Steven Mnuchin announced last week that they had decided to resume negotiations with US House of Representatives President Nancy Pelosi, Pelosi said it was "possible" to implement another stimulus package at the weekend. On the other hand, commenting on the ongoing conflict between Azerbaijan and Armenia, oil analyst Jose Chalhoub stated that despite the possibility that the conflict caused an interruption in the Baku-Tbilisi-Ceyhan pipeline, which transports oil to the world via Azerbaijan, there was no serious reaction in prices due to the low demand caused by the epidemic. It was said that the range of $ 42.68 and $ 42.80 could be followed as the resistance zone and the range of $ 42.56 and $ 42.44 could be followed as the support zone in Brent oil.