The barrel price of Brent oil, which rose to $40.10 yesterday, finished the day at $39.99. As of 09.27 today, a barrel of Brent oil was traded at $40.34, with an increase of 0.87 percent compared to the closing. At the same time, West Texas Intermediate (WTI) crude oil was sold at $37.64 per barrel.
Uncertainties about the amount of production cuts by Russia and Saudi Arabia before the meeting of the Organization of Petroleum Exporting Countries to be held on June 9, negatively affect prices.
In addition, Russian Energy Minister Aleksandr Novak’s statements that there will be a 5-6 million barrel oil supply deficit in the global oil market next month also strengthen the question marks regarding the cut decisions.
It is stated that technically, the range between 40.38 and 41.44 dollars in Brent oil can be viewed as resistance, and the range between 39.32 and 38.26 dollars can be viewed as support zone.
Source: https://www.aa.com.tr/tr/ekonomi/brent-petrolun-varili-40-dolari-asti/1866031
