Brent Oil Hovered Above $ 67 A Barrel

Brent oil hovered above $ 67 a barrel on May 4. Today, a barrel of Brent oil is trading at $ 67.44 in global markets.

The barrel of Brent oil, which reached the level of $ 67.82 on the first trading day of the week, closed the day at $ 67.56. The barrel of Brent oil, which decreased by 0.18 percent compared to the closing at 09:34 am today, is trading at $ 67.44. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 64.39. The measures taken against the coronavirus (Covid-19) epidemic in the USA have not started to be stretched, and the increase in Covid-19 cases in some countries, especially in India, in addition to the proposal to lift travel restrictions in the European Union (EU) countries, causes oil prices to remain unstable. In the statement made yesterday by the administrations of New York, New Jersey and Connecticut, some of the states most affected by the epidemic of the USA last year, it was stated that Covid-19 restrictions on places such as restaurants, shops, theaters, museums, amusement parks and gyms will be lifted as of May 19. In addition, the EU Commission has recommended member states to lift existing travel restrictions for those who have had both doses of EU-approved Covid-19 vaccines. However, concerns that the increase in Covid-19 cases in some countries, especially India, the world's third largest oil consumer, will adversely affect oil demand, making it inevitable to suppress prices. In technical terms, it is stated that in Brent oil, the range of $ 67.72 and $ 68.13 can be followed as the resistance zone, and the range of $ 67.31 and $ 66.90 can be followed as the support zone.