Brent Oil Traded at Around $56 a Barrel

Brent oil traded at around $56 a barrel. Today, a barrel of Brent oil traded at $ 56.01 in global markets.

The barrel of Brent oil, which climbed to $ 56.62 on Wednesday, closed the day at $ 56.08. The barrel of Brent oil, which decreased 0.12 percent compared to the closing at 9:45 am today, traded at $ 56.01. At the same time, West Texas type (WTI) crude oil traded at $ 53.21 a barrel. One of the first actions of Joe Biden, who took an oath yesterday and officially became the President of the United States, was to cancel the license for the Keystone XL oil pipeline project in Canada. Also, Jen Psaki, Biden's press secretary, announced that the administration will promise to end new oil and gas leases in federal lands, but the timeframe for it are not specified yet. In addition to these, a surprising partial increase in the crude oil stocks of the USA led to a decline in oil prices. In technical terms, it was stated that the range of 56.32 and 57.28 dollars can be watched as resistance and 55.36 and 54.40 dollars as the support zone in Brent oil. The global oil market has focused on the US Energy Information Agency's (EIA) crude oil stock data to be released on Friday, January 22nd.