Brent Oil Hovered Above $92 A Barrel

Brent oil hovered above $92 a barrel on February 18. Today in global markets, Brent oil is priced at $ 92.69 a barrel.

Brent oil, which went up to $ 94.50 yesterday, closed the day at $ 92.97. Today, at 09:16, the barrel of Brent oil, which decreased by 0.30 percent compared to the closing, is trading at $ 92.69. At the same time, a barrel of West Texas (WTI) crude oil was traded at $91.37. The strengthening of expectations for additional oil supply from Iran played a role in the decline in oil prices. Negotiations are continuing in Vienna, the capital of Austria, for the full and complete implementation of the Iran nuclear deal. If the negotiations are concluded positively, it is evaluated that approximately 1 million barrels of oil per day can be supplied to the market with the lifting of sanctions on Iranian oil. Contradictory statements regarding the Russia-Ukraine tension and its reflection on the concerns of supply shrinkage limit the decline in prices. Experts underline that the news flow regarding the Russia-Ukraine crisis remains in the focus of the markets. In technical terms, it is stated that the range of $92.94 to $93.61 can be viewed as resistance, and the range of $92.27 to $91.60 as support in Brent oil.