Brent Oil Is Above $ 45

Brent Oil Is Above $ 45

Brent oil hovers over $ 45. The barrel of Brent oil is traded at $ 45.64 in global markets. The barrel price of brent oil, which dropped to $ 44.56 yesterday, closed the day at $ 45.60. Brent oil barrel, which increased by 0.08 percent compared to the closing at 09.23 today, found buyers at $ 45.64. At the same time, West Texas type (WTI) crude oil traded at $ 43.05 a barrel. The news that the economic recovery progressed slowly after the Coronavirus (Covid-19) epidemic in the USA, created the thought that demand expectation in the market will decrease. For this reason, there was a downward pressure on oil prices. On the other hand, the fact that crude oil production came to a standstill due to the Marco and Laura hurricanes in the Gulf of Mexico also affected prices. The Security and Environment Enforcement Administration of the US Department of the Interior announced that oil production in the Gulf of Mexico decreased by 84.3 percent and natural gas production decreased by 60.1 percent due to the hurricane. Technically speaking, Brent Oil has resistance in the $ 45.73 to $ 45.85 range; and the range of $ 45.52 and $ 45.43 can be followed as the support zone.