Brent Oil Hovered Above $73 a Barrel

Brent oil hovered above $73 a barrel on June 15. Today in global markets, a barrel of brent oil is trading at $ 73.16.

The barrel of Brent oil, which went up to $ 73.64 yesterday, finished the day at $ 72.86. The barrel of brent oil, which increased by 0.4 percent compared to the closing at 09:13 am today, is trading  at $ 73.16. At the same time, West Texas Intermediate (WTI) crude oil was traded at $71.15 a barrel. The full implementation of the Iran Nuclear Deal, called the Joint Comprehensive Plan of Action (KOEP), which has been going on for about two months in Vienna, the capital of Austria, and the fact that the final decision has not yet been reached in the meetings where the US's return to the agreement was discussed, played a role in the rise in prices. If an agreement could not be reached, the concerns of oversupply in the markets with the lifting of the oil embargo on Iran drove prices down. On the other hand, experts think that a deal cannot be made before the presidential elections in Iran on June 18. Iranian President Hassan Rouhani called on the European Union (EU) countries and the United States to fully comply with the nuclear agreement on Monday, he said, "Our nuclear activities are completely peaceful. You have accepted to return to many of your commitments and declared that you will implement them. Accept the few remaining issues so that the world and our region will witness more peace, tranquility and constructive relations." In addition to these, the positive mood regarding oil demand continues to affect prices, as the vaccination programs continue around the world to combat the coronavirus (Covid-19) epidemic and due to the increase in traffic density due to the summer season. In technical terms, it is stated that the range of $73.25 to $73.44 can be viewed as resistance, and the range of $73.06 to $72.87 as support in Brent oil.