Brent Oil Hovered Above $72 a Barrel

Brent oil hovered above $72 a barrel on July 22. Today, in the global markets, a barrel of Brent oil is trading at $72.04.

The barrel of Brent oil, which went up to $ 72.38 yesterday, closed the day at $ 72.23. The barrel of Brent oil, which recorded a decrease of 0.26% compared to the closing at 09:30 today, is priced at $ 72.04. At the same time, West Texas type (WTI) crude oil was traded at $ 70.19 a barrel. The U.S. Energy Information Administration (EIA) announced that commercial crude oil stocks in the country rose by 2 million 100 thousand barrels (0.5 percent) to approximately 439 million 700 thousand barrels last week. Oil prices are fluctuating on concerns that the increase in stock data and coronavirus (Covid-19) cases will negatively affect the global economic recovery and oil demand growth. Restrictions that may adversely affect oil demand due to the Delta variant, which has been detected in approximately 100 countries and spread rapidly in regions where vaccination is interrupted, are also being discussed again. In technical terms, it is stated that the range of $72.20 to $72.60 can be viewed as resistance and the range of $71.80 to $71.40 as support in Brent oil.