Brent Oil Hovered Above $ 48 on December 8

Brent Oil Hovered Above $ 48 on December 8 Brent oil hovered above $ 48 on December 8. Today, a barrel of Brent oil traded at $ 48.48 in global markets. The barrel price of Brent oil, which rose to $ 49.43 on Monday, closed the day at $ 48.79. Brent oil barrel, which decreased by 0.63 percent compared to the closing at 9:05 am today, traded at $ 48.48. At the same time, West Texas type (WTI) crude oil traded at $ 45.50 a barrel. Taking new measures due to the increase in new types of coronavirus (Covid-19) caused a decrease in oil prices with the thought that it would negatively affect the economies. In addition, the failure of the OPEC + group, which consists of the Organization of Petroleum Exporting Countries (OPEC) and some non-OPEC oil producing countries, to make the expected decisions, raised concerns over supply and played a role in the decrease in prices. In technical terms, it is stated that the range of $ 48.52 and $ 48.63 can be followed as a resistance zone, and the range of $ 48.41 and $ 48.30 can be followed as a support zone in Brent Oil.