Brent Oil Trades Above $ 68 A Barrel

Brent oil trades above $ 68 a barrel on May 25. Today, a barrel of Brent oil is trading at $ 68.43 in global markets.

The barrel of Brent oil, which reached the level of $ 68.64 on the first trading day of the week, closed the day at $ 68.37. The barrel of Brent oil, which increased by 0.09 percent compared to the closing at 09:59 am today, is trading at $ 68.43. At the same time, the barrel of West Texas type (WTI) crude oil was traded at $ 66.06. The ongoing nuclear deal negotiations between Iran and the US play a major role in determining oil prices. The talks, which started in Vienna, the capital of Austria, on April 6 and discussed the full implementation of the Iran nuclear agreement, known as the Comprehensive Joint Action Plan, and the return of the US sanctions to the agreement, are expected to continue this week. Iranian Foreign Minister Mohammad Javad Zarif, in his Twitter account yesterday, reacted to the statement of US Secretary of State Antony Blinken about sanctions against Iran and demanded US President Joe Biden to abandon the legacy of former US President Donald Trump. Saying that lifting the sanctions imposed by Trump is not a bargaining tool, Zarif emphasized that this is a legal and moral obligation. In addition, although restrictions were relaxed after the number of coronavirus (Covid-19) cases fell in the USA and Europe, the world's largest oil consumer, the high number of cases in the Asian region, including India, the world's third largest oil importer, will adversely affect oil demand. strengthening their thoughts, pushing down prices. In technical terms, it is stated that in Brent oil, the range of $ 68.52 and $ 68.72 can be followed as a resistance zone, and the range of $ 68.34 and $ 68.15 can be followed as a support zone.