Brent Oil Trades Above $ 68 A Barrel

Brent oil has trades above $ 68 a barrel. Today, a barrel of Brent oil is traded at $ 68.72 in global markets.

The barrel price of Brent oil, which reached the level of $ 68.94 on Tuesday, closed the day at $ 68.39. Brent oil barrel, which increased by 0.58 percent compared to the close at 10:09 am today, traded at $ 68.72. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 65.19. The decline in commercial crude oil stocks in the USA, which is the world's largest oil consumer, created the perception that the demand has increased and brought with it the rise in prices. According to the estimates of the American Petroleum Institute, the commercial crude oil stocks of the USA decreased by 1 million barrels last week compared to the previous week. The market expectation was that the stocks would increase by approximately 2.7 million barrels. Official oil stock data of the US Energy Information Administration will be announced today.   AstraZeneca Vaccine Crisis in European Countries The idea that the suspension of the use of the coronavirus (Covid-19) vaccine developed by Oxford University and the pharmaceutical company AstraZeneca in many European countries will negatively affect the recovery in oil demand stands out as a factor that prevents the rise in prices. Most recently, it was reported that the use of AstraZeneca vaccine was temporarily suspended in Sweden on the grounds that it increases the risk of blood clotting and may trigger brain hemorrhage. Previously, many European countries, including countries such as Germany, France, Spain, Italy, Denmark, the Netherlands, Norway and Ireland, decided to shelve the vaccine in question. In technical terms, it was stated that in Brent oil, the range of $ 68.86 and $ 69.25 could be followed as the resistance zone and the range of $ 68.47 and $ 68.08 as the support zone.