Brent Oil Hovered Above $ 49 A Barrel

Brent Oil Hovered Above $ 49 A Barrel Brent oil has hovered above $ 49 a barrel. Today, a barrel of Brent oil traded at $ 49.33 in global markets. The barrel price of Brent oil, which saw the level of $ 50.86 on Tuesday, closed the day at $ 50.08. The barrel of Brent oil, which decreased by 1.5 percent at 9:26 am today compared to the closing, traded at $ 49.33. At the same time, the barrel of West Texas type (WTI) crude oil traded at $ 46.33. The increase in the commercial crude oil stocks of the USA brought concerns of stock surplus and caused the prices to decrease. According to the forecast announced by the American Petroleum Institute yesterday, the country's commercial crude oil stocks increased by approximately 2.7 million barrels last week compared to the previous week. The market expectation was that stocks would decrease by approximately 3.25 million barrels. Today, the official oil stock data of the US Energy Information Administration will be reported. On the other hand, the detection of a 70 percent more contagious mutation of the coronavirus in England played an important role in the decrease in prices due to the concern that global oil demand would decrease. In technical terms, it was stated that the range of $ 49.38 and $ 49.43 could be followed as the resistance zone in Brent oil, and the range of $ 49.24 and $ 49.15 could be followed as the support zone.