Brent Oil Reached Above $82 a Barrel

Brent oil reached above $82 a barrel on January 7. Today in global markets, Brent oil is priced at $82.68 a barrel.

Brent oil, which went up to $ 82.83 yesterday, closed the day at $ 81.99. Brent oil, which increased by 0.84 percent compared to the closing at 09:32 am today, is trading at $ 82.68 a barrel. At the same time, West Texas Intermediate (WTI) crude oil was traded at $80.19 a barrel. Concerns that the protests, which have been continuing since January 2, due to the natural gas hike in Kazakhstan, and the loss of life, will negatively affect the country's oil supply, played a major role in the increase in oil prices. It was announced that production in Tengiz, one of the most important oil fields of the country with a daily oil production of approximately 1.6 million barrels, was reduced on Thursday due to protests. It was reported that a "temporary adjustment in production" was required due to logistical problems in the field, which has a production capacity of approximately 600 thousand barrels per day. In addition, the Libyan National Petroleum Corporation's statement that oil production will be cut by 200,000 barrels per day for a week due to the maintenance work that will begin as of Sunday on an oil line between the Samah and Dahra fields also increases the concerns about the contraction in supply. The production cut in the country, which produced 1.3 million barrels per day last year, reached approximately 800 thousand barrels. On the other hand, despite the rapid spread of the Omicron variant of the coronavirus, the growing evidence that the variant has been milder than others, and the governments' failure to take strict measures against the variant, supports the upward movement of prices, reducing concerns that demand recovery will slow down. The largest increase in gasoline stocks since April 2020 in the USA, the world's largest oil consumer, continues to have a negative impact on prices. In technical terms, it is stated that the range of $82.79 to $82.86 can be viewed as resistance, and the range of $82.58 to $82.44 as support in Brent oil.