Brent Oil Price Under $ 20

Brent Oil Price Under $ 20

The price of barrels of Brent oil finds its buyers in international markets at $ 19.20.   The barrel price of Brent oil, which increased by $ 22.22 on the first trading day of the week, closed for around $ 20. On the second trading day of the week, Brent oil's barrel has decreased 4 percent compared to the closing since the opening and found buyers at $ 19.20. At the same time, West Texas type (WTI) crude oil is trading at $ 17.96 a barrel. The prices continue to decrease due to the inadequate stock capacity of the countries that do not have empty stocks due to low prices, due to the demand created by the restrictions applied to prevent the coronavirus epidemic, which has taken the world in a short time. In addition, estimates that the daily crude oil production cut, which will exceed 10 million barrels between 1 May and 30 June, will not be enough to reduce the impact of the decrease in demand to reach 30 million barrels from 1 May to 30 June. Brent oil is technically stated that the range of $ 19.17 to $ 19.56 will be followed as a resistance zone, and the range of $ 18.78 to $ 18.39 as a support zone.