Brent oil is $42.84 a barrel

The barrel price of Brent oil, which rose to $43.18 yesterday, finished the day at $43.08. The barrel of Brent oil was traded at $42.84 as of 09.17 today, with a decrease of 0.56 percent compared to the closing. At the same time, West Texas Intermediate (WTI) crude oil was sold at $40.40 per barrel.

The risks of a second wave in the new type of coronavirus (Covid-19) epidemic continue to put downward pressure on oil prices.

In addition, the tension between the USA and China, the world’s largest economy and oil consumer, negatively affects economic forecasts and oil demand expectations.

White House Trade Advisor Peter Navarro, in his statement yesterday, reminded that the trade agreement with China was signed on January 15, and argued that the Beijing government knew about the coronavirus on that date, but did not disclose the necessary information to the world about the source of the virus.

It is stated that technically, the range between 42.96 and 43.34 dollars in Brent oil can be watched as resistance, and the range between 42.58 and 42.20 dollars can be watched as support zone.

Source: https://www.aa.com.tr/tr/ekonomi/brent-petrolun-varili-42-84-dolar/1886445

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