Brent Oil Hovered Above $ 62 A Barrel

Brent oil has hovered above $ 62 a barrel on March 26. Today, a barrel of Brent oil is traded at $ 62.95 in global markets.

The barrel price of Brent oil, which rose as high as $ 64.19 on Thursday, closed the day at $ 61.95. The barrel of Brent oil, which increased by 1.61 percent compared to the closing at 09:48 am today, traded at $ 62.95. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 59.66. The rise in oil prices was driven by concerns that the giant container ship, which stranded on the Suez Canal in Egypt, disrupting the global oil trade, could cause the vital shipping lane to remain closed for weeks. On Wednesday, a giant container ship on the Suez Canal, one of the most important transit points in the world, crashed into the shore when visibility decreased due to sandstorm and bad weather conditions in the country. As a result of the ship squeezing transversely in the narrow channel and closing the passageway, long ship queues were formed in the channel and the transportation of approximately 13 million barrels of crude oil was disrupted due to the cessation of sea traffic. In addition to this accident, the risk of mutation and new wave concerns in the coronavirus (Covid-19) epidemic caused new measures in many countries, especially in European countries, negatively affecting oil prices and suppressing prices. In technical terms, it is stated that the range of 63.76 to 63.93 dollars can be followed as the resistance zone and the range of 62.53 to 62.33 dollars can be followed as the support zone in Brent oil.