Brent Oil Reached Above $105 a Barrel

Brent oil reached above $105 a barrel. Today, a barrel of Brent oil is priced at $105.23 in global markets.

Brent oil, which rose to $ 106.24 on Friday, completed the day at $ 104.39. The barrel price of Brent oil reached 105.23 dollars, with an increase of 0.80 percent compared to the closing date, as of 09:44 today. At the same time, a barrel of West Texas type crude oil is trading at $100.03. 31 member states of the International Energy Agency (IEA) also participated in the US's decision to sell its strategic oil reserves. Details of the amount and timing to be released regarding the IEA's decision are expected to be announced this week. In Yemen, the two-month ceasefire agreement between the Yemeni government and the Houthis also alleviated the supply concerns in the markets. The United Nations Special Envoy to Yemen, Hans Grundberg, announced on Friday that the Yemeni government and the Houthis have agreed to cease air, land and sea operations. Grundberg stated that the parties also agreed on the entry of fuel vessels to Hudeyde ports and commercial flights from Sana Airport to predetermined points in the region. On the other hand, the ongoing curfew in Shanghai, the largest city in China, due to increasing Covid-19 cases, increases the concerns of the decrease in demand in the world's second largest oil consumer country and pressures prices downwards. In technical termsit is stated that the range of 105.79 to 107.53 dollars can be followed as a resistance and the range of 104.05 to 102.31 dollars as a support zone in Brent oil.