Brent Oil Hovers Above $ 45

Brent Oil Hovers Above $ 45

Brent oil is hovering over $ 45. Brent oil is traded at $ 45.05 in global markets today.

The barrel price of Brent oil, which fell to $ 44.76 yesterday, closed the day at $ 45.46. At 09:14 today, the barrel of Brent oil fell 0.9 percent compared to its close and found buyers at $ 45.05. At the same time, West Texas type (WTI) crude oil traded at $ 42.56 a barrel.

According to the estimates of the American Petroleum Institute, the commercial crude oil stocks of the USA fell by about 4.3 million barrels. The expectation of the market was that stocks would decrease by 2.7 million barrels. Crude oil prices also rose as this decrease meant an increase in demand in the US market. On the other hand, US President Donald Trump's announcement that he postponed the planned trade talks with China created excitement in the markets.

In addition, the uncertainty regarding the $ 1 trillion incentive package in the United States in combating the Coronavirus (Covid-19) epidemic also negatively affects the market.

In addition, technically, the resistance in Brent oil between $ 45.14 and $ 45.21; It is said that the $ 44.97 and $ 44.90 range can be followed as the support zone.