Brent Oil Over $ 40 A Barrel on October 5

Brent Oil Over $ 40 A Barrel on October 5 Brent oil has hovered over $ 40 a barrel on October 5. Today, in global markets, Brent oil traded at $ 40.19 a barrel. On the last trading day of the past week, the barrel price of Brent oil, which dropped to $ 38.79, closed the day at $ 39.27. At around 09:00 a barrel of Brent oil increased by 2.3 percent compared to the closing date and traded at $ 40.19. At the same time, West Texas type (WTI) crude oil traded at $ 38.08 a barrel. With the announcement that US President Donald Trump, who caught coronavirus, was in good health, oil prices also increased. Recently, the uncertain health condition of Trump has fueled fears about the global economic recovery, causing oil prices to drop by nearly 4 percent on Friday. Speaking to Anadolu Agency (AA), oil analyst Jose Chalhoub stated that oil prices started the week at low levels despite the clashes between Azerbaijan and Armenia, as the number of cases increased significantly in New York and widespread quarantine measures started to be taken in some big cities such as Madrid. In addition, 8 percent decrease in oil production due to the continuation of strikes in Norway also played a role in the increase in oil prices. In technical terms, it was stated that the range of $ 40.36 and $ 40.63 could be followed as the resistance zone and the range of $ 39.63 and $ 39.17 in brent oil.