Brent Oil Is Above $56 A Barrel

Brent oil is above $56 a barrel. Today, a barrel of Brent oil is being traded at $ 56.01 in global markets. The barrel price of Brent oil, which reached the level of $ 57.42 on Wednesday, closed the day at $ 56.06. The barrel price of Brent oil, which decreased by 0.09 percent compared to the closing at 9:50 am today, traded at $ 56.01. At the same time, West Texas type (WTI) crude oil traded at $ 52.93 a barrel. The epidemic measures, tightened by the increase in the number of new types of coronavirus (Covid-19) cases and casualties around the world, caused the price to decrease, creating concerns that the global oil demand would be weak. In addition, despair about vaccination studies also played a role in this decline. On the other hand, the above-expected decline in the commercial crude oil stocks of the USA put a barrier to the decline in prices. According to data released by the US Energy Information Administration (EIA) on Wednesday, last week, the country's commercial crude oil stocks fell more than expected by about 3.2 million barrels compared to the previous week. The estimation of the market was that the stocks would decrease by approximately 2.7 million barrels. In addition, the trillion-dollar stimulus package, which will be announced today by the Elected US President Joe Biden, creates a positive atmosphere in the markets and restricts the fall in prices. In technical terms, it was stated that the range of 56.04 to 56.29 dollars can be followed as resistance and the range of 55.79 to 55.54 dollars can be followed as the support zone in Brent oil.