Brent Oil Traded Above $64 A Barrel

Brent oil traded above $64 a barrel on March 22 Today a barrel of Brent oil is traded at $ 64.16 in global markets

The barrel price of Brent oil, which declined to $ 62.07 on the last trading day of the last week, closed the day at $ 64.53. The barrel of Brent oil, which decreased by 0.57 percent compared to the closing at 09:57 am today, traded at $ 64.16. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 61.09. After the number of coronavirus (Covid-19) cases increased again in Europe, concerns that oil demand could not recover soon continued this week and caused oil prices to decline. While measures were tightened in some European countries, including Germany and Belgium, EU leaders canceled their plans for face-to-face meetings. After determining the high number of cases in a row in Germany, Prime Minister Angela Merkel and state prime ministers will evaluate how to follow the coronavirus epidemic today. The weekly number of new cases, which fell rapidly in January and February in the country, increased again in late February and March. It is stated that this increase is due to the mutated and rapidly spreading strains of the coronavirus. In technical terms, it is stated that the range of 64.75 to 65.03 dollars in brent oil can be followed as resistance and the range of 63.94 to 63.41 dollars can be followed as the support zone.