The barrel price of Brent oil, which rose to $21.09 yesterday, finished the day at $20.34. As of 09.30 today, a barrel of Brent oil was traded at $20.50, with an increase of 0.78 percent compared to the closing. At the same time, West Texas Intermediate (WTI) crude oil was sold at $17.92 per barrel.
According to the estimates of the American Petroleum Institute (API), US commercial crude oil stocks, which increased by 9.98 million barrels to 510 million barrels in the week of April 18-24, rose more slowly than expected.
Experts do not expect a rapid rise in global oil prices
Experts note that this perception of slowdown, which has a positive impact on global oil markets, is combined with the attempts of some countries to revive their economies by relaxing measures to combat the new type of coronavirus (Covid-19) epidemic, which causes an increase in prices.
Experts point out that there is no expectation of a rapid rise in global oil prices in the short and medium term, and state that the only exception to this will be finding a cure for the epidemic in the short term.
It is stated that technically the range between 20.38 and 20.70 dollars can be viewed as resistance and the range between 20.06 and 19.74 dollars can be viewed as support zone for Brent oil.
Source: https://www.aa.com.tr/tr/ekonomi/brent-petrolun-varili-20-50-dolar/1822354
