Brent Oil Is Above $ 63 A Barrel

Brent oil has hovered above $ 63 a barrel. Today, a barrel of Brent oil is traded at $ 63.01 in global markets.

The barrel price of Brent oil, which reached the level of 63.94 dollars on the last trading day of the last week, closed the day at the level of 62.14 dollars. The barrel price of Brent oil, which increased by 1.40 percent compared to its closing at 09.42 today, traded at $ 63.01. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 60.02. Last week, the world's largest oil producer, USA, especially in the state of Texas, which is the energy center, lost the effect of freezing colds that caused production to cease, and the increase in prices brought along a rise in prices. It is stated that it is expected to take a few days for the production to start in the region, and a few weeks for the refineries with large and complex structures to be restored. While the developments in the coronavirus vaccination studies raised the hopes for a recovery in oil demand, it was stated that the production in the USA is expected to remain below the pre-epidemic level in the long term, and this situation strengthens the perception that demand and supply will be balanced in global markets. According to weekly data released by oilfield services company Baker Hughes, the number of oil rigs in the US dropped by 1 to 305 during the week of February 13-19 compared to the previous week. In addition, the expectations for the US support package to be voted in the House of Representatives on February 26 this week had an effect on the rise in prices. In technical terms, it was noted that the range of $ 63.13 and $ 63.56 could be followed as the resistance zone and the range of $ 62.70 and $ 62.27 as the support zone in brent oil.