Brent Oil Hovered Above $90 A Barrel

Brent oil hovered above $90 a barrel on February 21. Today in global markets, Brent oil is priced at $ 90.87 a barrel.

Brent oil, which went up to $ 94.15 on Friday, closed the day at $ 91.39. Brent oil, which decreased by 0.57 percent compared to the closing at 09:21 today, is trading at $ 90.87 a barrel. At the same time, West Texas Intermediate (WTI) crude oil was traded at $89.67 a barrel. The expectation that US President Joe Biden and Russian President Vladimir Putin would meet on the Ukraine crisis and that the Iran nuclear deal negotiations in Vienna could conclude soon played a role in the drop in oil prices. In a written statement, White House Spokesperson Jen Psaki stated that US Secretary of State Antony Blinken and his Russian counterpart Sergey Lavrov are scheduled to meet in Europe this week. Psaki said, "President Biden agreed in principle to meet with President Putin in the absence of an invasion towards Ukraine." While the negotiations for the full and complete implementation of the Iran nuclear deal were continuing in Vienna, the capital of Austria, the statements made strengthened the expectations regarding the oil supply from Iran. In technical terms, it was stated that the range of $ 90.51 to $ 90.01 can be viewed as resistance, and the range of $ 91.01 to 91.51 as support in Brent oil.