Brent Oil Reached Above $76 a Barrel

Brent oil reached above $76 a barrel on December 9. Today, Brent oil is priced at $76.32 a barrel in global markets.

Brent oil, which went up to $ 76.37 yesterday, closed the day at $ 75.82. The barrel of Brent oil, which recorded an increase of 0.65 percent compared to the closing at 09:05 am today, is trading at $ 76.32. Meanwhile, West Texas Intermediate (WTI) crude oil was traded at $71.84 a barrel. While the concerns about the possible effects of the Omicron variant, which emerged in the coronavirus (Covid-19) epidemic, continued to be effective on oil prices, the statements that the 3rd dose of the vaccine could provide protection against the variant created partial comfort in the markets. The fact that some governments took measures to curb the spread of the new variant limited the rise in oil prices. The UK government has ordered working from home from Monday. In the country that has decided to put the vaccination passport into practice, it will become mandatory to wear masks in most closed places such as theaters and movie theaters as of tomorrow. In Denmark, restaurants, bars and schools were closed and China halted some tourist trips. The US Energy Information Administration announced that commercial crude oil stocks in the country decreased by 200,000 barrels (0.1 percent) last week to approximately 432 million 900 thousand barrels. The market expectation was that inventories would increase by 2 million barrels. On the other hand, negotiations on the Iran nuclear deal are expected to start again today. In technical terms, it is stated that the range of $76.53 to $76.78 can be viewed as resistance and the range of $76.28 to 76.03 as support in Brent oil.