Brent Oil Hovered Above $65 A Barrel

Brent oil hovered above $65 a barrel on August 23. Today in global markets, a barrel of Brent oil is priced at $65.84.

Brent oil, which went up to $ 66.93 on Friday, closed the day at $ 64.75. The barrel of brent oil, which recorded an increase of 1.68% compared to the closing at 09:47 am today, is trading at $ 65.84. At the same time, West Texas Intermediate (WTI) crude oil was traded at $63.16 a barrel. The decrease in the value of the US dollar against other currencies due to the reaction and profit-oriented purchases of the market players played a role in the rise of crude oil prices determined in dollars. The US dollar index, which measures the value of the dollar against other currencies, fell to $ 93,297. On the other hand, the concerns that the increase in the number of coronavirus (Covid-19) cases around the world will bring new measures and travel restrictions to the agenda continue to press prices down. Experts said that a short-term recovery is expected in prices, but the downward trend will continue due to increasing concerns about oil demand worldwide. In technical terms, it is stated that the range of $66.07 to $66.31 can be viewed as resistance and the range of $65.83 to $65.59 as support in Brent oil.