Brent Oil Hovered Above $90 A Barrel

Brent oil hovered above $90 a barrel on February 9. Today in global markets, Brent oil is priced at $ 90.79 a barrel.

Brent oil, which went up to $ 92.93 yesterday, closed the day at $ 90.78. Brent oil, which increased by 0.01 percent compared to the closing at 09:32 am today, is trading at $ 90.79 a barrel. At the same time, West Texas Intermediate (WTI) crude oil was traded at $89.36 a barrel. The decline in the commercial crude oil stocks of the USA, the world's largest oil consumer, played a role in the high prices. According to the forecast of the American Petroleum Institute, the country's commercial crude oil stocks decreased by 2 million 25 thousand barrels last week compared to the previous week. The market expectation was that inventories would increase by 675,000 barrels. Official oil stock data from the U.S. Energy Information Administration will be released today. The 8th round of negotiations on the Iran nuclear deal, which has been going on for about 10 months in Vienna, the capital of Austria, and which was seen as the last round yesterday, increases the expectations for the oil supply from Iran and suppresses the upward movement of prices. Experts assess that oil prices approaching $100 may encourage US producers to increase their production. The Energy Information Administration also estimates that production will rise to 11 million 970 thousand this year, with an increase of 770 thousand barrels per day. It is stated that the range of 91.15 to 91.36 dollars can be followed as resistance and the range of 90.70 to 90.49 dollars as a support zone in Brent oil.