Brent Oil Traded Above $ 66

Brent oil traded above $ 66 a barrel on February 25 Today a barrel of Brent oil is traded at $66.38 in global markets

The barrel price of Brent oil, which reached the level of $ 66.58 on Wednesday, closed the day at $ 66.18. The barrel price of Brent oil which compared to the closing increased by 0.30 percent at 09:38 am today traded at $ 66.38 At the same time, West Texas type (WTI) crude oil traded at $ 63.39 a barrel. Oil prices, which hovered at their highest levels in the last 13 months, soared as the world's largest oil producer fell crude oil production in the United States and US Federal Reserve (Fed) Chairman Jerome Powell calmed concerns about inflation. FED Chairman Powell, in his presentation at the House of Representatives Financial Services Committee yesterday, stated that inflation may be volatile as the economy returns to normal, but he does not expect inflation to rise, and if necessary, the FED has the tools to intervene. Following these statements, the global risk appetite increased. The stage reached in the coronavirus (Covid-19) vaccine studies was also effective in the rise in oil prices. In technical terms, it was stated that the range of 66.62 to 67.10 dollars could be followed as the resistance zone and the range of 66.14 to 65.55 dollars could be followed as the support zone in brent oil.