The barrel price of Brent oil, which rose to $ 103.48 yesterday, decreased to $ 95 today. Huge reductions in fuel prices were expected.
The barrel price of brent oil, which was shaken by the Russia-Ukraine war, is traded at $ 95.36 in international markets.
Data on the high demand in the USA, the world’s largest oil consumer, were influential in the rise in prices.
In Turkey, on the other hand, while the rise in the dollar continued, gasoline prices were reduced one after the other. The engine had a raise.
The American Petroleum Institute announced that the country’s gasoline inventories were estimated to decrease by about 3.4 million barrels last week compared to the previous week. Contrary to the expectations, an increase of 593 thousand barrels was predicted in the commercial crude oil stocks of the country.
Despite the increase in commercial crude oil stocks, the forecast of a more-than-expected decrease in US gasoline stocks created the perception that demand was high and supported the rise in prices.
Official oil stock data from the U.S. Energy Information Administration will be released today.
Uncertainties regarding the Iran nuclear deal also have an impact on prices. If the European Union’s proposal to lift sanctions on Iran’s oil exports is accepted, it is predicted that more oil will enter the market.
On the other hand, the concerns that the economic slowdown that may arise in case of more aggressive interest rate hikes by the central banks will adversely affect the oil demand, continues to put pressure on prices.
It is stated that technically, the range of $ 99.01 to $ 99.48 in Brent oil can be viewed as resistance and the range of $ 98.54 to 98.07 as support.
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