Brent Oil Traded Above $42

Brent Oil Traded Above $42 Brent oil traded above $42. Today, a barrel of Brent oil traded at $ 42.09 in global markets. The barrel price of Brent oil, which saw $ 42.24 on Thursday, closed the day at $ 41.94. The barrel of Brent oil, which increased by 0.35 percent compared to the closing, at 08.55 today, traded at $ 42.09. At the same time, the barrel of West Texas type (WTI) crude oil traded at $ 40.47. Oil prices started to rise after the US Treasury Secretary Steven Mnuchin announced that they reached an agreement with the President of the US House of Representatives Nancy Pelosi on the resumption of the negotiations on the coronavirus (Covid-19) stimulus package. In addition, the deterioration of US unemployment data and the increasing coronavirus (Covid-19) cases in the country pushed oil prices down. The fact that Libya started to export oil with a daily supply of 1 million barrels after an interval of 8 months raised the concerns of excess supply in markets where demand was low due to the pandemic and negatively affected the prices. In technical terms, it was stated that in Brent oil, the range of $ 42.35 and $ 42.54 could be followed as the resistance zone and the range of $ 41.86 and $ 41.56 as the support zone.