Brent Oil Hovers At $ 46 Level

Brent Oil Hovers At $ 46 Level

Brent oil is at the level of $ 46. In global markets today, brent oil is traded at $ 46.28 a barrel. The barrel price of brent oil, which fell to $ 45.54 on Wednesday, ended the day with $ 45.64. The barrel of Brent oil, which increased 1.4 percent compared to its closing at 09.05 am today, found buyers at $ 46.28. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 43.43. The news about the coronavirus (Covid-19) treatment and macroeconomic data and the expectations had a great effect in prices. The unexpected decline in US crude oil stocks also causes prices to trend upwards. US crude oil stocks, which decreased by 4.7 million barrels last week, were predicted to decrease by 3.7 million barrels. In addition, according to the data released today in the US, durable goods orders increased by 11.2 percent in July compared to the previous month and reached $ 230.7 billion. On the other hand, the Marco and Laura hurricanes that took place in the US oil production field in the Gulf of Mexico affected the rise in prices. Analysts stated that today in Brent oil, technically, resistance is in the $ 46.26 to 46.28 range; the range of $ 46.20 and $ 46.17 can be followed as a support zone.