Brent Oil Hovered Above $ 47

Brent Oil Hovered Above $ 47 Brent oil hovered above $ 47. Today, in global markets, brent oil traded at $ 47.10 a barrel. The barrel price of Brent oil, which rose up to $ 48.28 on Tuesday, closed the day with $ 47.72. This morning around 09:32 a barrel of Brent oil, which decreased by 0.67 percent compared to the closing, traded at $ 47.10. At the same time, West Texas type (WTI) crude oil was traded at $ 44.20 a barrel. The rise in the commercial crude oil stocks of the USA created concerns over land surplus in the global oil market, causing oil prices to decline. According to estimates released yesterday by the American Petroleum Institute, the country's commercial crude oil stocks increased by approximately 4.2 million barrels last week compared to the previous week. The market expectation was that stocks would decrease by approximately 2.3 million barrels. Official oil stock data from the US Energy Information Administration will be announced today. In technical terms, it is stated that in Brent oil, the range of $ 47.23 and $ 47.10 can be followed as resistance, and the range of $ 47.01 and $ 46.90 can be followed as a support zone.