Brent Oil Reached Above $87 a Barrel

Brent oil reached above $87 a barrel on January 19. Today, Brent oil is priced at $87.94 a barrel in global markets.

Brent oil, which went up to $ 88.66 yesterday, closed the day at $ 87.51 a barrel. Brent oil, which increased by 0.5 percent compared to the closing at 09:31 am today, is trading at $ 87.94 a barrel. At the same time, West Texas Intermediate (WTI) crude oil was traded at $85.36 a barrel. Concerns about supply shortages played a role in the rise in oil prices, at a time when global demand recovery continued despite increased cases due to the Covid-19 Omicron variant. The attack on the United Arab Emirates (UAE) by the Iran-backed Houthis in Yemen on Monday reinforced the concerns about possible supply disruptions in the markets and supported prices. As a result of the unmanned aerial vehicle attack carried out by the Houthis in the Musaffah region of Abu Dhabi, the capital of the UAE, an explosion occurred in 3 fuel tankers. Markets focused on official oil stock data from the US Energy Information Administration, which will be released today. In technical terms, it was stated that the range of 88.64 and 89.76 dollars can be followed as resistance, and the range of 86.42 and 85.32 dollars as support in Brent oil.