Brent Oil Struggles at the $100 Level

Brent Oil's barrel is pushing the $100 level - Brent oil recorded sharp declines due to concerns that the US Federal Reserve (FED) will raise interest rates more aggressively due to high inflation. The barrel price of Brent oil, which rose to $100.55 yesterday, ended the day at $99.10.

The barrel of Brent oil is traded below $100 in international markets. The barrel price of Brent oil, which rose to $100.55 yesterday, ended the day at $99.10. The expectation that the US Federal Reserve will continue with the aggressive interest rate hikes it has taken as part of the fight against inflation triggered the decline in oil. Traders said they expected the Fed to raise interest rates by one point this month. This increased the pressure on Brent Oil and caused a decline. Brent oil, which reached its lowest level since March yesterday due to the developments in global markets, recorded an upward movement today. Increasing forecasts that the United States Federal Reserve (FED) will not go for an aggressive interest rate hike caused an increase in Brent oil. Technically, it is stated that the range of 99.45 to 101.87 dollars can be followed as resistance and the range of 99.43 to 97.51 dollars as support zone in Brent oil.

---

You may also be interested in this:

Brent oil fell 2.4 percent. With this decline, it has seen the lowest level since March. Brent oil fell 20 percent from its peak level in June. https://ieconomy.io/brent-petrol-mart-ayindan-beri-en-dusuk-seviyesinde/