The barrel price of Brent oil, which rose to $41.95 yesterday, finished the day at $41.71. The barrel of Brent oil was traded at $41.62 as of 09.23 today, with a decrease of 0.21 percent compared to the closing. At the same time, West Texas Intermediate (WTI) crude oil was sold at $39.41 per barrel.
While the increase in vehicle use and gasoline consumption in the major economies of the USA, Europe and Asia with the start of the summer season signals that global oil demand has revived, oil prices increased by over 3 percent yesterday.
However, Libya’s attempt to restart oil exports brought concerns about oversupply in the global oil market.
In the statement made by the Libyan National Petroleum Corporation, which is responsible for the extraction and export of oil in the country, it was stated that negotiations with neighboring countries are continuing to lift the blockade on Libya, and that a solution is being sought to prevent the country’s oil facilities from being used as military targets or bargaining chips in politics.
On the supply side, the risk of a second wave in the new type of coronavirus (Covid-19) epidemic continues to keep prices under pressure, negatively affecting economic activities and the global oil demand outlook.
It is stated that technically, the range between 41.67 and 41.82 dollars in Brent oil can be watched as resistance, and the range between 41.52 and 41.37 dollars can be viewed as a support zone.
Source: https://www.aa.com.tr/tr/ekonomi/brent-petrolun-varili-41-62-dolar/1894250
