Brent Oil Reached Above $92 A Barrel

Brent oil reached above $92 a barrel on February 8. Today, in the global markets, Brent oil is priced at $ 92.72 a barrel.

Brent oil, which went up to $ 94 yesterday, was priced at $ 92.69 on the day. Brent oil, which increased by 0.03 percent compared to the closing at 09:23 today, is trading at $ 92.72 a barrel. At the same time, West Texas Intermediate (WTI) crude oil was traded at $91.42 a barrel.

Tension Between Russia And Ukraine Increased The Prices

Strong global oil demand, rising tensions between Russia and Ukraine and concerns that cold weather conditions in the USA would lead to a contraction in supply played a role in the partial increase in prices. The national oil company of Saudi Arabia, Saudi Aramco, announced last week that it increased the price of crude oil for Asian oil consumers in February and March, which also supports the prices. The cessation of production at the oil refineries in Texas last Friday due to the cold weather waves in the USA was another factor that increased the prices by reinforcing the supply concerns. Markets focused on oil stock data, which the American Petroleum Institute will release today. Official oil stock data from the US Energy Information Administration will be released tomorrow. It is stated that the range of $93 to $93.23 can be viewed as resistance, and the range of $92.47 to $92.17 as support in Brent oil.