Brent oil is $40.52 a barrel

The barrel price of Brent oil, which rose to $41.45 yesterday, finished the day at $41.18. As of 09.30 today, the barrel of Brent oil was traded at $40.52, with a decrease of 1.60 percent compared to the closing. At the same time, West Texas Intermediate (WTI) crude oil was sold at $38.12 per barrel.

According to data released by the American Petroleum Institute (API), the approximately 8.5 million barrel increase in US commercial crude oil stocks recorded last week is causing oil prices to fall.

Concerns that economies around the world, especially in the USA and China, will recover much slower than expected are also putting downward pressure on prices.

Experts state that the decision of the Organization of Petroleum Exporting Countries (OPEC) and some non-OPEC oil producing countries to extend the 9.7 million barrels per day oil cut agreement they reached in April until the end of July prevented the rapid decline in global oil prices.

Meanwhile, it was announced that oil production in Sharara, the largest oil field in Libya, which was stopped due to the attack of armed groups, restarted a few hours later.

It is stated that technically, the range between 41.81 and 43.41 dollars in Brent oil can be watched as resistance, and the range between 40.21 and 38.61 dollars can be viewed as a support zone.

Source: https://www.aa.com.tr/tr/ekonomi/brent-petrolun-varili-40-52-dolar/1871533

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