Brent oil is $40.41 a barrel

The barrel price of Brent oil, which rose to $41.99 yesterday, finished the day at $41.73. As of 09.35 today, the barrel of Brent oil was traded at $40.41, with a decrease of 3.16 percent compared to the closing. At the same time, West Texas Intermediate (WTI) crude oil was sold at $38.11 per barrel.

The US Energy Information Administration (EIA) announced that commercial crude oil stocks in the country increased by 5.7 million barrels (1.1 percent) last week, reaching 538.1 million barrels. Market expectation was that stocks would decrease by 1.7 million barrels. The country’s crude oil stocks decreased by 2.1 million barrels in the previous week.

Experts state that oil prices are declining as US crude oil stocks rise to record levels.

Concerns about the global economic recovery continue to put downward pressure on prices.

On the other hand, an armed group affiliated with Khalifa Haftar, the leader of the illegitimate armed forces in the east of Libya, raided the Al-Fil oil field and cut off production.

It is stated that technically, the range between 42.44 and 44.29 dollars in Brent oil can be viewed as resistance, and the range between 40.13 and 39.79 dollars can be viewed as a support area.

Source: https://www.aa.com.tr/tr/ekonomi/brent-petrolun-varili-40-41-dolar/1872915

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