Brent Oil Reached Above $ 45 Again

Brent Oil Reached Above $ 45 Again

Brent oil rose over $ 45 again. Brent oil's barrel was traded at $ 45.01 in global markets today. The barrel price of Brent oil, which dropped to the level of 44.02 dollars yesterday, closed the day at the level of 44.90 dollars. Brent oil's barrel rose 0.2 percent from closing today at 09.05 am and found buyers at $ 45.01. At the same time, West Texas type (WTI) crude oil traded at $ 42.84 a barrel. US President Donald Trump's re-bringing sanctions against Iran had a major impact on the upward trend of prices. At a press conference held yesterday, Trump announced that he had instructed Secretary of State Mike Pompeo to inform the United Nations Security Council (UNSC) that they would use the mechanism that could reverse its sanctions against Iran. The United States submitted a bill last week to renew the UNSC's 13-year arms embargo on Iran, which will end on October 18, and only the USA and the Dominican Republic approved. The data put downward pressure on prices, pointing out that the post-coronavirus economic recovery in the USA, the world's largest economy and oil consumer, is slowing and demand will decrease. In technical terms, analysts stated that the range of $ 45.08 and $ 45.13 could be followed as the resistance zone in Brent oil, and the range of $ 44.93 and $ 44.88 could be followed as the support zone.