Saturday , May 21 2022

Brent Oil $ 60.25 – Sondakika Economy News



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Friday Brent oil price, which started at $ 62.54 per day and reached up to $ 62.77 a day, which was opened at $ 59.14 this morning. Brent oil traded at $ 60.25 with an increase of 1.87 percent as 09.27. At the same time the Texas West type (WTI) crude oil buyer bought $ 51.18.

With the continuation of the excessive supply in the global market on Friday and JP Morgan oil prices for next year, the price of Brent oil fell below $ 60 for the first time in 13 months.

The US Energy Information Administration, the country's commercial crude oil stocks last week, increased by 4.9 million barrels (1.1 per cent). He announced 446.9 million barrels of the increase. Thus, the country's commercial oil stocks reached its highest level since December 2017.

Experts, said the decline in global economies caused by low expectations of demand for the pressures that the pressures down.

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At the meeting of the Institute of Petroleum Exporting Countries (OPEC) in Vienna on December 6th, it is said that the fact that the parties will not interrupt production will reduce the prices further.

Oil Brent, technically, the range of 60.15 to 60.47 dollars of resistance, 59.51 to 59.83 dollars can be monitored as the support region is recorded.

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