Oil Prices Rose

Oil Prices Rose

Brent oil barrels are trading at $ 52.08 in international markets. The price of barrels of Brent oil, which reached up to $ 53.32 yesterday, completed the day at the level of $ 51.60. Brent oil was traded at $ 52.08 a barrel, with an increase of 0.93 percent compared to the closing at 09.53. In the same minutes, the West Texas crude oil (WTI) found buyers at $ 47.35 a barrel. According to the U.S. Energy Information Administration (EIA) data, crude oil production in the country increased by an average of 101 thousand barrels daily compared to the previous week. Commercial crude oil inventories in the country increased by 800 thousand barrels (0.2 percent) last week and reached 444.1 million barrels. Market expectations were that inventories would rise by 2.6 million barrels. Crude oil stocks had increased 500 thousand barrels in the previous week. Today, the 8th Extraordinary Meeting of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries will be followed in the oil market. Saudi Arabia and Russia, the leaders of OPEC and non-OPEC countries, are expected to approve new cuts of up to 1 million barrels per day. Brent oil is technically stated that the range of $ 52.09 to $ 52.38 can be traced as a resistance zone and the range of $ 51.80 to $ 51.51 as a support zone.