Brent Oil Hovered Above $ 48

Brent Oil Hovered Above $ 48 Brent oil hovered above $ 48. Today, a barrel of Brent oil traded at $ 48.15 in global markets. The barrel price of Brent oil, which rose to $ 48.70 on Wednesday, closed the day at $ 48.25. The barrel of Brent oil, which decreased 0.21 percent compared to the closing at 09.26 today, traded at $ 48.15. At the same time, West Texas type (WTI) crude oil traded at $ 45.14 a barrel. Global markets turned their attention to the meeting of the Organization of Petroleum Exporting Countries (OPEC) and OPEC + group, which consists of some non-OPEC oil producing countries, to be held today via videoconference. It is estimated that a consensus will be reached to extend the cut, which is currently 7.7 million barrels per day, for a few more months at the meeting, where the decision on cuts for 2021 will be discussed. In addition, the UK's approval of the widespread use of the coronavirus vaccine developed by the German biotechnology company BioNTech with the American pharmaceutical company Pfizer has a positive effect on oil prices. In England, the first country to approve the vaccine, the vaccine is expected to be available as of next week. In technical terms, it is stated that in Brent oil, the range of $ 48.13 and $ 48.31 can be followed as the resistance zone and the range of $ 47.95 and $ 47.77 as the support zone.