Brent Oil Reached Above $75 A Barrel

Brent oil reached above $75 a barrel on June 22. Today, in global markets, a barrel of Brent oil is trading at $75.19.

Barrel of Brent oil, which went up to $ 74.94 on the first trading day of the week, closed the day at $ 74.90. The barrel of Brent oil, which increased by 0.39 percent compared to the closing at 09:58 am today, traded at $ 75.19. At the same time, West Texas Intermediate (WTI) crude oil was traded at $73.25 a barrel. The barrel price of Brent oil, which reached up to $ 75.27 during the day, recorded its highest level since April 26, 2019. The strengthening of optimistic expectations for a rapid recovery in global oil demand played a role in the rise in oil prices. The number of cases are decreasing in India, one of the countries most affected by the coronavirus (Covid-19) epidemic. According to the statement made by the Ministry of Health of India, 42 thousand 640 new cases were detected in the last 24 hours. The number of daily cases in the world's third largest oil importer country was at the lowest level in the last 3 months. The full implementation of the Iran nuclear deal, called the "Joint Comprehensive Plan of Action (KOEP)", which has been going on for about 3 months in Vienna, the capital of Austria, and the 10-day hiatus planned during the talks on the return of the US to the agreement eased the concerns about the return of Iranian oil, and prices rose supported its trend. At a press conference held in the capital Tehran yesterday, conservative Ibrahim Reisi, who won the presidential elections in Iran on June 18, stated that foreign policy in his own government would not be limited to the nuclear deal, and answered "No" to the question whether he would meet with US President Joe Biden. Russia's Permanent Representative to the United Nations (UN) Vienna Office, Mikhail Ulyanov, said on Sunday that the parties could meet in 10 days for the next meeting, but an exact date could not be given yet. In technical terms, it is stated that the range of $75.29 to $75.78 can be viewed as resistance and the range of $74.80 to $74.31 as support in Brent oil.