While the raw material problem, high commodity prices stood as an obstacle to the development of the world economy, the barrel of Brent oil was traded at $ 83.66 in the international market, with a decrease of 0.07 percent as of 09:50 today.
In the same minutes, West Texas type (WTI) crude oil found buyers at $81.30 a barrel. The partial decline in prices was driven by the forecast that commercial crude oil stocks will fall less than expected in the USA, the world's largest oil consumer, and the forecast for an increase in gasoline stocks.
CRUDE OIL STOCK DECREASED 1 MILLION 77K
According to the forecast of the American Petroleum Institute, the country's commercial crude oil stocks decreased by approximately 1 million 77 thousand barrels last week, falling below the expectations of the markets compared to the previous week.
OIL DEMAND WEAKNESSED IN THE USA
The forecast for an increase in gasoline stocks of the USA, reaching approximately 11 million barrels, increased the concerns that the demand for oil in the country was weakening.
After yesterday's statement by the US Federal Reserve (Fed), Jerome Powell, the perception that the interest rate hike in the markets could be made slower than expected, restrains the downward trend in oil prices.
It is stated that technically, the range of $83.93 to $84.34 in Brent oil can be viewed as resistance, and the range of $83.52 to 83.11 as support.
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