The barrel price of Brent oil, which rose to $ 77.17 yesterday, completed the day at $ 77.01. The barrel price of Brent oil became $76.44 with a decrease of 0.74 percent as of 09.26 today compared to the closing date. At the same time, West Texas Intermediate (WTI) crude oil found buyers at $72.61 a barrel.
The uncertainty created in the markets by the inflation data to be announced in the USA tomorrow was effective in the decrease in prices.
According to the data announced by the US Federal Reserve (Fed) New York branch, American consumers’ short-term inflation expectations dropped to 4.4 percent in April, while their medium-term inflation expectation increased to 2.9 percent and long-term inflation expectations to 2.6 percent. output.
While oil markets fell sharply last week, prices rose on Friday and Monday as recession fears eased in the US, the world’s largest oil consumer.
OPEC meeting to be held on June 4
On the other hand, the next meeting of the Organization of Petroleum Exporting Countries (OPEC) and OPEC+ group, which consists of some non-OPEC producer countries, will be held on 4 June.
Experts predict that oil prices will remain at current levels for a while due to recession and demand concerns, and the OPEC+ group will try to keep prices above $70 per barrel.
The OPEC+ group led by Saudi Arabia and Russia, at the 48th Joint Ministerial Monitoring Committee Meeting, decided to make voluntary cuts of approximately 1.6 million barrels per day as of May, in addition to the 2 million barrels per day production cut that has continued since October. had confirmed.
It is stated that technically, the range of $ 76.58 to $ 76.85 in Brent oil can be viewed as resistance and the range of $ 76.16 to 76.01 as support.