Brent Oil Started The Week With A Decline

Brent oil started the week with a decline. Today, a barrel of Brent oil is trading at $ 66.59 in global markets.

The barrel of Brent oil, which reached the level of $ 67.38 on the last trading day of the last week, closed the day at $ 66.77. The barrel of Brent oil, which decreased by 0.27 percent compared to the closing at 09:40 am today, is trading at $ 66.59. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 63.05. The perception that the tight measures brought about by the increase in the number of coronavirus (Covid-19) cases in some major economies, especially India, one of the world's largest oil consumers, played a role in the decrease in oil prices. In India, the second country most affected by the epidemic after the USA, the highest daily case increase was announced since the first Covid-19 case was seen on January 30, 2020. According to the statement made by the Ministry of Health of India, with the detection of 273,810 new cases in the last 24 hours, the total number of active cases exceeded 15 million. While 1,619 people died in the country due to Covid-19, the total loss of life was approximately 178,769. In addition, oil prices are supported by the idea that economic activities will recover faster than expected after the epidemic. In technical terms, it is stated that the range of 66.78 to 67.31 dollars can be followed as the resistance zone and the range of 66.25 to 65.72 dollars can be followed as the support zone in Brent oil.