Brent Oil Hovered Above $ 50

Brent Oil Hovered Above $ 50 Brent oil has hovered above $ 50. Today, a barrel of Brent oil traded at $ 50.50 in global markets. The barrel price of Brent oil, which rose to $ 50.74 on the last trading day of last week, closed the day with $ 49.97. On the first working day of the week, the barrel of Brent oil increased. According to the data recorded at 09.34 am, the barrel of Brent oil increased by 1.06 percent and traded at $ 50.50. At the same time, West Texas type (WTI) crude oil traded at $ 47.05 a barrel. Vaccines developed against the new type of coronavirus (Covid-19) epidemic brought along an increase in prices, thinking that the economic recovery will accelerate and the demand for oil will increase. The explosion, which was announced as a result of an "outsourced" attack on an oil tanker in Saudi Arabia's Jeddah port, increased supply concerns and affected the rise in prices. Another damage occurred in Iran. A crack in the oil pipeline caused a fire in Chaharmahal-Bahtiari province of Iran. It has been reported that the crack in the oil pipe is large and repairs may take several days. In addition to these, the increase in the number of oil rigs in the USA suppressed the price increase due to the concern over supply. In the week of December 5-11, the number of oil rigs in the USA increased by 12 and the number of natural gas rigs increased by 4 compared to the previous week, the biggest increase since January. In technical terms, it was stated that the range of $ 50.53 and $ 50.70 could be followed as the resistance zone and the range of $ 50.04 and $ 49.72 as the support zone in Brent oil.