Brent Oil Trades Above $ 55

Brent oil trades above $ 55. Today, a barrel of Brent oil was traded at $ 55.83 in global markets. The barrel price of Brent oil, which reached the level of 56.39 dollars on the first working day of the week, closed the day with the level of 55.56 dollars. The barrel of Brent oil, which increased by 0.31 percent compared to the closing, traded at $ 55.83 today at 9:33 am. At the same time, the barrel of West Texas type (WTI) crude oil traded at $ 52.45. The partial increase in oil prices was driven by the expectation of trillions of dollars worth of stimulus packages that US President Joe Biden mentioned recently. Biden is expected to announce the incentive package on Thursday. On the other hand, despite the vaccination efforts, the fact that the new types of coronavirus cases continue to increase all over the world, creating the concern that the global oil demand will not increase, suppressing the rise in prices. In technical terms, it is stated that the range of 55.91 to 56.26 dollars can be followed as the resistance zone in brent oil, and the range of 55.56 to 55.21 dollars can be followed as the support zone.