Brent Oil Price is on the Rise

Brent Oil Price is on the Rise Brent oil price is on the rise. A barrel of Brent oil traded at $ 48.95 in global markets today. The barrel price of Brent oil, which saw the level of $ 49.55 on Wednesday, closed the day at $ 48.86. The barrel price of Brent oil, which increased by 0.18 percent compared to the closing, at 09.41 today, traded at $ 48.95. At the same time, the barrel of West Texas type (WTI) crude oil traded at $ 45.66. With the positive developments regarding the new type of coronavirus (Covid-19) vaccine, the initiation of vaccination in England gave confidence to the markets. Despite the oversupply in the US, hopes for the coronavirus vaccine prevented investors from worrying. The vaccine news created the perception that global oil demand would increase, and it was instrumental in rising prices. In technical terms, it is stated that in Brent oil, the range of $ 49.09 and $ 49.27 can be followed as resistance, and the range of $ 48.91 and $ 48.73 can be followed as a support zone.