Brent Oil Hovered Above $ 66 A Barrel

Brent oil has hovered above $ 66 a barrel on April 15. Today, a barrel of Brent oil is trading at $ 66.63 in global markets.

The barrel of Brent oil, which reached the level of $ 66.75 on Wednesday, ended the day at $ 66.58. The barrel of Brent oil, which increased by 0.07 percent compared to the closing at 09:37 am today, is trading at $ 66.63. At the same time, West Texas type (WTI) crude oil traded at $ 63.16 a barrel. The sharp decline in the US crude oil stocks played a major role in the increase in oil prices. According to the data released by the US Energy Information Administration (EIA), commercial crude oil stocks in the country fell by 5 million 900 thousand barrels (1.2 percent) last week to 492 million 400 thousand million barrels. The data were evaluated as the demand for oil in the USA, the world's largest oil consumer, is on the rise. In addition, after the Organization of Petroleum Exporting Countries (OPEC) raised its global oil demand forecast, the International Energy Agency (IEA) also revised its oil demand forecast for 2021 in its March petroleum market report released yesterday. Citing the rapid vaccination efforts in the USA and the wide-ranging stimulus packages in the country as well as the improvement in the economic data of China as the main reasons for the positive revision in the demand forecast, IEA has increased the global demand for oil by approximately 5.7 million barrels It expects it to reach the level of 96 million 700 thousand barrels. In technical terms, it is stated that the range of $ 66.53 and $ 66.67 can be followed as the resistance zone in brent oil, and the range of $ 66.19 and $ 65.99 can be followed as the support zone.