Brent oil’s barrel is traded for $ 76,56

Brent oil is trading for $ 76,56 in international markets. Yesterday, the barrel price of Brent oil rising up to $ 77.98, completed the day at the level of $ 76.11. Today, as of 09.27, the barrel price of Brent oil increased by 0.6 percent compared to the closing to $ 76.56. At the same time, the Western Texas type (WTI) crude oil barrel found buyers for $ 73.23.

Oil prices rose by the impact of uncertainties for the expected interest rate decision of the US Federal Bank (FED) on Wednesday.

According to the prices in the money markets, the FED will leave the interest rates at the first monetary policy meeting of the year, while the bank is expected to go to the first interest rate reduction of the year with a possibility of 59 percent in May. These expectations support the prices upward by strengthening economic revival and demand increase in the USA, the world’s largest oil consumers.

On the other hand, Scott Bessent, the investor and hedge fund manager nominated by US President Donald Trump, became the US Treasury Minister. The appointment of Bessent to the Treasury Ministry was welcomed as a development to support economic growth in the markets.

In addition, the European Union (EU) Foreign Relations and Security Policy High Representative Kaja Kallas, the EU, Russia, the decision to extend the period of economic sanctions imposed by 6 months, supported the price increases. Kallas, Foreign Ministers in Brussels said in a statement after the meeting, ‘Russia, the cause of the damage caused by the price.’ He said. Brent oil technically 81.64 dollars, resistance, 74,10 dollars can be followed as support.