Brent Oil's Barrel Traded at $ 45.47

Brent Oil's Barrel Traded at $ 45.47

Today, brent oil is traded at $ 45.47 in global markets. The barrel price of Brent oil, which dropped to the level of $ 45.25 yesterday, closed the day at $ 45.44. Brent oil's barrel increased by 0.06 percent compared to closing at 09.42 today and traded at $ 45.47. In the same minutes, the Western Texas (WTI) crude oil traded at $ 42.32 a barrel. The sharp declines in crude oil stocks in the US support the upward movement in prices. US crude oil inventories dropped sharply last week, down 7.4 million barrels compared to the previous week. The market forecast was that inventories would decrease by 3 million barrels. In addition, the fall of the US dollar against other currencies in international markets also supports the rise in prices. In addition, the increase in the number of new types of coronavirus (Covid-19) cases worldwide and the rush of global economic growth put pressure on the rise of prices. Analysts technically resist the range of $ 45.64 to $ 45.76 in brent oil; He noted that the range of $ 45.31 to $ 45.10 can be tracked as a support zone.