Brent Oil Traded Above $ 47

Brent Oil Traded Above $ 47 Brent oil traded above $ 47. In global markets today, barrel of brent oil traded at $ 47.81. The barrel price of Brent oil, which dropped to $ 47.58 on Thursday, closed the day at $ 47.79. This morning it was up 0.04 percent at 09.36 and traded at $ 47.81. At the same time, West Texas type (WTI) crude oil traded at $ 45.03 a barrel. With the positive news from the coronavirus vaccine, brent petol prices saw their highest levels since March, dropped slightly due to concerns over supply. On the other hand, as a result of the rapid increase in the number of cases all over the world, the concern that "oil demand will continue to remain weak in the short term" is getting stronger, and this situation puts a barrier to the rise of prices. In addition, markets are now turning their eyes to the meeting where the Organization of Petroleum Exporting Countries (OPEC) and the OPEC + group, which consists of some non-OPEC producer countries, will discuss the cut decision for the next year on 30 November-1 December. The group is expected to extend the duration of the current production cut agreement. In technical terms, it is stated that in Brent oil, the range of $ 48.03 and $ 48.29 can be followed as the resistance zone, and the range of $ 47.77 and $ 47.51 can be followed as the support zone.