Brent Oil Reached Above $70 A Barrel

Brent oil reached above $70 a barrel on August 25. Today, a barrel of Brent oil is priced at $70.21 in global markets.

The barrel of Brent oil, which went up to $ 71.27 yesterday, closed the day at $ 70.41. The barrel of Brent oil, which decreased by 0.28% compared to the closing at 09:57 am today, is trading at $ 70.21. At the same time, West Texas type (WTI) crude oil was traded at $ 67.33 a barrel. According to the forecast of the American Petroleum Institute, the commercial crude oil stocks of the USA decreased by 1 million 622 thousand barrels last week compared to the previous week. The market expectation was that stocks would decrease by 2 million 367 thousand barrels. Official oil stock data from the U.S. Energy Information Administration (EIA) will be released today. In technical terms, it is stated that the range of $ 70.28 to $ 70.57 can be viewed as resistance and the range of $ 69.99 to 69.70 as support for Brent Oil.