Brent Oil Trails Below $ 40

Brent Oil Trails Below $ 40 Brent oil trails below $ 40. Today, in global markets, brent oil traded at $ 39.57 a barrel. The barrel of Brent oil, which dropped to $ 39.51 on Monday, closed the day at $ 39.61. The barrel of Brent oil which decreased by 0.1 percent compared to the closing, at 9:19 am today traded at $ 39.57. At the same time, the barrel of West Texas type (WTI) crude oil traded at $ 37.29. The increase in the number of cases in the coronavirus (Covid-19) epidemic all over the world brought along demand concern and was effective for the decrease in prices. On the other hand, the fact that Libya will begin exports after Khalifa Haftar, the leader of the illegitimate armed forces in the east of Libya, lifted the blockade on the country's oil ports and wells, increased the surplus rush in the markets and negatively affected the prices. Also in the Gulf of Mexico, where more than half of the US oil refineries are located, Hurricane Sally caused production cuts; Last month, there were hurricanes Marco and Laura in the area. Therefore, the interruption of production also put pressure on prices. Technically, in Brent oil, the resistance between 39.67 and 39.73 dollars; It is said that the range of $ 39.53 and $ 39.45 can be followed as the support zone.