Brent Oil Trades Above $ 43

Brent Oil Trades Above $ 43 Brent oil trades above $ 43. A barrel of Brent oil was traded at $ 43.16 in global markets today. The barrel price of Brent oil, which rose to $ 43.46 on Thursday, closed the day at $ 43.34. Today, around 9 am, a barrel of Brent oil decreased by 0.42 percent compared to the closing and traded at $ 43.16. At the same time, West Texas type (WTI) crude oil traded at $ 41.04 a barrel. The slight decline in oil prices played a major role in the announcement by energy companies and workers' representatives that they would meet with a state-appointed mediator after nearly a week of strike in Norway. With this meeting, the expectation that the strike, which affects almost 8 percent of the production in the country, will end. In addition, in Libya, which is not included in the production cut agreement of the Organization of Petroleum Exporting Countries (OPEC) and some non-OPEC countries, the possible excess supply rush, which has been interrupted since January due to the conflicts, has increased to approximately 300 thousand barrels per day this week and The increase in new types of Coronavirus (Covid-19) cases worldwide also supports the decline in global oil prices. On the other hand, the Delta hurricane, which is expected to reach the Gulf of Mexico, where 17 percent of crude oil production is made, forces companies with offshore oil platforms in the region to evacuate and stop production and prevent prices from falling. In technical terms, it is said that the range of $ 43.34 and $ 43.55 can be followed as the resistance zone and the range of $ 43.13 and $ 42.92 can be followed as the support zone in Brent oil.