Brent Oil Hovered Above $ 48

Brent Oil Hovered Above $ 48 Brent oil hovered above $ 48. Today, a barrel of Brent oil traded at $ 48.64 in global markets. The barrel price of Brent oil, which saw the level of $ 49.06 on Wednesday, closed the day at $ 48.53. At around 09.37 this morning, the barrel of Brent oil increased by 0.23 percent compared to the close and traded at $ 48.64. At the same time, West Texas type (WTI) crude oil traded at $ 45.78 a barrel. The decline in the US crude oil stocks above the market expectations played an important role in the increase in prices. Crude oil stocks in the country fell by 800,000 barrels last week compared to the previous week, according to data released yesterday by the US Energy Information Administration. The market expectation was that the stocks would decrease by 333 thousand barrels. In addition, despite the increase in coronavirus cases worldwide, good news from the vaccine front supports the increase in prices. In technical terms, it is said that in Brent oil, the range of $ 49.06 to $ 49.39 can be followed as resistance, and the range of $ 48.73 to $ 48.40 can be followed as a support zone.