Brent Oil Hovers Above $42

Brent Oil Hovers Above $42 Brent oil hovers above $42. A barrel of Brent oil traded at $ 42.78 in global markets today. The barrel price of Brent oil, which rose to $ 43.80 on Friday, completed the day at $ 43.15. The barrel of Brent oil, which decreased 0.86 percent compared to the close at 09.25 today, traded at $ 42.78 today. At the same time, West Texas type (WTI) crude oil traded at $ 40.94 a barrel. Libya's announcement that regarding the start of exporting oil played a major role in the decline in prices. In addition, in the Coronavirus (Covid-19) pandemic, the number of cases exceeding 30 million worldwide negatively affected oil demands and suppressed crude oil prices. On the other hand, the disruption of oil and gas production at sea in the Gulf of Mexico, where three hurricanes have been experienced in the last month, supports the upward trend in oil prices. It is said that the range of $ 43.05 and $ 43.14 can be followed as the resistance zone and the range of $ 42.74 and $ 42.54 can be followed as the support zone in Brent oil.