Brent Oil Trades Above $ 42

Brent Oil Trades Above $ 42 Brent oil trades above $ 42. Today, a barrel of Brent oil traded at $ 42.18 in global markets. The barrel price of Brent oil, which fell as low as $ 41.22 on Tuesday, closed the day at $ 42.65. The barrel of Brent oil, which decreased by 1.10 percent compared to the closing at 09.28 today, traded at $ 42.18. At the same time, West Texas type (WTI) crude oil traded at $ 40.11 a barrel. Oil prices soared after US President Donald Trump was discharged from the hospital where he was being treated for the coronavirus, but prices fell again as Trump decided to stop long-standing stimulus negotiations with the Democrats. According to the estimates of the American Petroleum Institute (API), commercial crude oil stocks in the country rose by 951 thousand barrels last week. The market expectation was that there would be an increase of 400 thousand barrels in stocks. The increase in stocks above the expectations also supported the downward movement of prices. In addition to these, the ongoing strikes in Norway cut production in some fields, and the Delta tropical storm forces companies with offshore oil platforms in the Gulf of Mexico to evacuate the downward movement of prices. In technical terms, it is said that the range of $ 42.23 and $ 42.46 can be followed as the resistance zone and the range of $ 42 to 41.77 can be followed as the support zone in Brent oil.