Brent Oil Hovered Above $74 A Barrel

Brent oil hovered above $74 a barrel on September 21. Today, in global markets, a barrel of Brent oil is priced at $74.74.

Brent oil, which fell to $ 73.52 yesterday, closed the day at $ 73.93. The barrel of Brent oil, which increased by 1.09 percent compared to the closing at 09:37 am today, is trading at $ 74.74. At the same time, a barrel of West Texas type (WTI) crude oil was traded at $71.06. Oil prices tumbled more than 2% yesterday as the dollar continued to rise in international markets amid uncertainty over the debts China's Evergrande will have to pay this week. On the other hand, the ongoing supply shortages in the USA after Hurricane Ida, which hit the southern coast of the country at the end of August, had a positive impact on oil prices. The U.S. Department of the Interior's Security and Environmental Enforcement Administration reported that about 18 percent of oil production and 27 percent of natural gas production in the Gulf of Mexico are still closed. Royal Dutch Shell, the largest oil producer in the Gulf of Mexico region, announced that a facility in the region will not be operational until the end of this year due to the damage caused by Hurricane Ida. Experts estimate that Shell's loss of production will reduce Gulf of Mexico oil supply by 200,000 to 250,000 barrels per day. 1.8 million barrels per day are produced on platforms in the Gulf of Mexico. This figure accounts for about 16 percent of US oil production. In technical terms, it is stated that the range of $74.91 to $75.16 can be followed as resistance and the range of $74.24 to $73.99 as support in Brent oil.