Brent Oil Rises Over $ 43 A Barrel

Brent Oil Rises Over $ 43 A Barrel Brent oil rises over $ 43 a barrel. Today, a barrel of Brent oil traded at $ 43.81 in global markets. The barrel price of Brent oil, which saw $ 45.23 on Wednesday, closed the day with $ 43.80. Today, around 09.11, the barrel of Brent oil, which increased by 0.02 percent compared to the closing, traded at $ 43.81. At the same time, West Texas type (WTI) crude oil was traded at $ 41.48 a barrel. Positive news about the new coronavirus (Covid-19) vaccine had an impact on the rise in oil prices in recent days. Thanks to the good news about the vaccine, oil prices have hit their highest in 2 months. On the other hand, increasing coronavirus cases all over the world and quarantine practices of European countries raise concerns that global oil demand will be low. Accordingly, oil prices are being pressured downwards. On the other hand, the positive expectation of the markets regarding the production cut agreement implemented by the Organization of Petroleum Exporting Countries (OPEC) and some non-OPEC producer countries since 2017 is increasing the prices. Today, global oil markets will be monitored by the International Energy Agency's October oil market report and the US Energy Information Administration's official oil stock data. In technical terms, it is said that the range of $ 43.97 and $ 44.22 can be followed as the resistance zone in brent oil and the range of $ 43.72 and $ 43.47 as the support zone.