The barrel price of Brent oil, which rose to $ 79 yesterday, completed the day at $ 77.59. The barrel price of Brent oil became $77.64 with an increase of 0.06 percent compared to the closing date as of 09.40 today. In the same minutes, West Texas type (WTI) crude oil found buyers at $73.07 a barrel.
The decline in the commercial crude oil and gasoline stocks of the USA, the world’s largest oil consumer, supports prices upwards with the perception that the demand is strong in the country.
The U.S. Energy Information Administration announced that commercial crude oil inventories in the country fell by about 7 million 500 thousand barrels last week.
In the said period, US gasoline stocks decreased by 2 million 900 thousand barrels.
Expectations for a recovery in demand in China, the world’s second largest oil consumer, continue to support prices.
On the supply side, the markets closely follow the developments in Iraq. The news that the oil flow was interrupted due to the disagreement between the central government and the Iraqi Kurdish Regional Government and that some companies closed their oil fields remain on the agenda.
On the other hand, although the expectations that the banking crisis in the USA are over, are getting stronger, the uncertainties about the monetary policy in the next period continue to put downward pressure on prices.
It is stated that technically, the range of 77.91 to 78.37 dollars in Brent oil can be followed as a resistance and the range of 77.45 to 76.99 dollars as a support zone.
