Brent Oil Over $36 A Barrel

Brent Oil Over $36 A Barrel Brent oil is trading above $36 a barrel. Today, a barrel of Brent oil traded at $ 36.55 in global markets. The barrel price of Brent oil, which rose up to $ 38.10 on Friday, closed the day with $ 37.46. Brent oil, which decreased by 2.07 percent compared to the closing, traded at $ 36.55 at 09.10 today. At the same time, West Texas type (WTI) crude oil was traded at $ 34.36 a barrel. With the increase in the number of coronavirus (Covid-19) cases all over the world and the start of quarantine practices, especially in Europe, oil prices reached their lowest levels in the last 5 months. While Germany, France, Belgium and Greece imposed curfews across the country, countries such as Italy and Spain tightened their measures. In addition to these, the uncertainty caused by the US presidential elections in the markets was also effective in the decrease in prices. On the other hand, the approach of Libya's oil exports to 1 million barrels has strengthened the concerns over supply in the markets and the prices were pressured downwards. In technical terms, it was reported that the range of $ 38.10 and $ 38.78 can be followed as the resistance zone in Brent oil, and the range of $ 35.86 and $ 35.08 can be followed as the support zone.