The barrel price of Brent oil, which rose to $ 78 yesterday, completed the day at $ 77.76. The barrel price of Brent oil was $77.56, down 0.26 percent compared to the close as of 09:58 today. In the same minutes, West Texas type (WTI) crude oil found buyers at $72.83 a barrel.
Oil prices are mixed due to concerns about global economic growth and uncertainties about oil demand.
The World Bank reported that the average potential growth of the global economy is expected to decline to a 30-year low of 2.2 percent per year between 2022 and 2030.
Indermit Gill, World Bank Chief Economist and Senior Vice President of Development Economics, commented on the report, “The global economy is on track to live a lost 10 years.” made its assessment.
The purchase of loans and deposits by First Citizens Bank of Silicon Valley Bank, which started the banking crisis in the USA, strengthened the expectations that the worst of the crisis might be behind.
However, while the concerns that the pressure on the banking sector in the country might trigger a recession continue to be influential on prices, uncertainties regarding the monetary policy of the US Federal Reserve continue.
On the other hand, expectations of recovery in demand in China support prices. China’s National Petroleum Corporation reported that apparent oil demand in the country could rise 5.1 percent this year to 756 million tons.
It is stated that technically, the range of $77.75 to $78.03 in Brent oil can be viewed as resistance, and the range of $77.47 to $77.19 as support.