Brent Oil Reached Above $68 a Barrel

Brent oil reached above $68 a barrel on August 24. Today, Brent oil is priced at $68.82 a barrel in global markets.

Brent oil, which went up to $ 68.90 yesterday, closed the day at $ 68.37. The barrel of Brent oil, which increased by 0.66 percent compared to the closing at 09:44 am today, is trading at $ 68.82. At the same time, West Texas Intermediate (WTI) crude oil was traded at $66.03 a barrel. In the rise in oil prices, a new phase in the fight against the epidemic will contribute to the recovery of the economy and increase the demand for oil, after the US Food and Drug Administration (FDA) announced that Pfizer-BioNTech's coronavirus (Covid-19) vaccine was approved for full use for 16 years and older. In the statement made by the FDA, it was described as an important milestone in the fight against the Covid-19 epidemic that the vaccine, which received "emergency use approval" in December 2020, was given full approval for use by 16 years and older. On the other hand, the rapid spread of the Delta variant of Covid-19 around the world and the low vaccination rates in Asia are putting pressure on prices, raising concerns about oil demand. In technical terms, it is stated that the range of $69.06 to $69.96 can be viewed as resistance and the range of $68.16 to 67.26 dollars as support in Brent oil.