Brent Oil Hovered Above $ 64 A Barrel

Brent oil has hovered above $ 64 a barrel on April 26. Today, a barrel of Brent oil is trading at $ 64.66 in global markets.

The barrel of Brent oil, which reached the level of 66.30 dollars on the last trading day of the last week, completed the day at the level of 65.42 dollars. The barrel of Brent oil, which decreased by 1.16 percent compared to the closing at 09:43 am today, is trading at $ 64.66. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 61.45. In the decline in oil prices, concerns that the increase in new types of coronavirus (Covid-19) cases in some countries, especially India, the world's third largest oil consumer, played a role in the negative reflection of oil demand. In India, one of the countries worst affected by the coronavirus epidemic, the daily number of cases continues to rise at a record level. According to the statement made by the Ministry of Health of India, 352 thousand 991 cases were detected in the last 24 hours, while the total number of cases increased to 17 million 313 thousand 163. The daily number of cases in the country has been progressing at the highest level ever seen worldwide since April 22. In Japan, the world's fourth largest oil importer, the state of emergency was initiated yesterday due to the ongoing increase in coronavirus cases in the capital Tokyo and Osaka, Kyoto and Hyogo states. Today, the oil markets turned their eyes to the production increase to be implemented by the OPEC + group as of May in line with the previous decision and the meeting that the group will meet on Wednesday. The meeting to be held by the OPEC + group this week will be a technical meeting. There is no change in the oil production policy of the group. At its meeting on April 1, the group decided to gradually increase its daily oil production for May, June and July. In technical terms, it is stated that in Brent oil, the range of $ 65.01 and $ 65.50 can be followed as a resistance zone, and the range of $ 64.52 and $ 64.03 can be followed as a support zone.