Brent Oil Hovers Above $41

Brent Oil Hovers Above $41 Brent oil hovers above $41. Today, a barrel of Brent oil traded at $ 41.48 in global markets. The barrel price of Brent oil, which dropped to $ 41.20 yesterday, closed the day at $ 41.72. At around 08.43 today, a barrel of Brent oil fell 0.57 percent compared to closing and traded at $ 41.48. At the same time, West Texas type (WTI) crude oil traded at $ 39.50 a barrel. According to the American Petroleum Institute (API), the commercial crude oil stocks of the USA increased by approximately 691 thousand barrels, contrary to the expectations of the markets to decrease by 2.3. This data strengthened the expectations of a decrease in oil demand in the USA and caused a decrease in crude oil prices. On the other hand, the imposition of new restrictions in European countries such as the UK, France, Germany and Spain due to the increase in cases in the coronavirus outbreak supported the predictions for the recovery of the world economies and pressured the prices vertically. It was stated that in Brent oil, the range of $ 41.70 and $ 42.02 could be followed as the resistance zone and the range of $ 41.13 and $ 40.88 as the support zone.