Brent Oil Reached Above $71 A Barrel

Brent oil reached above $71 a barrel on August 6. Today in global markets, a barrel of Brent oil is priced at $71.81.

The barrel of Brent oil, which went up to $ 71.50 yesterday, closed the day at $ 71.29. The barrel of Brent oil, which increased by 0.73 percent compared to the closing at 09:33 am today, is trading at $ 71.81. At the same time, West Texas Intermediate (WTI) crude oil was traded at $69.59 a barrel. The increasing tension between Iran and Israel has a major impact on the rise in oil prices. The Liberian-flagged "Mercer Street" oil tanker owned by the UK-based Zodiac Maritime Shipping Company, owned by Israeli businessman Eyal Ofer, was attacked on July 29 in the Arabian Sea while en route from Tanzania to the United Arab Emirates. Two Romanian people died. Israel and Britain claimed that Tehran was behind the attack, which was allegedly carried out with an unmanned aerial vehicle, while the Iranian Foreign Ministry denied the accusations. On the other hand, concerns that the increase in the number of coronavirus (Covid-19) cases will adversely affect the global economic recovery and the growth in oil demand are putting pressure on prices. In technical terms, it is stated that the range of $71.96 to $72.28 can be viewed as resistance and the range of $71.64 to $71.32 as support in Brent oil.