What was the price per barrel of Brent crude oil on Wednesday, January 24?
After rising to $80.43 yesterday, the price per barrel of Brent crude oil closed the day at $79.55. As of 10:18 AM today, the price per barrel of Brent crude oil was $79.66, an increase of 0.13 percent from the previous close. At the same time, West Texas Intermediate (WTI) crude oil was trading at $74.52 per barrel.
Brent crude oil is trading at $79.66 per barrel in international markets. After rising to $80.43 yesterday, the price per barrel of Brent crude oil had closed the day at $79.55. As of 10:18 AM today, the price per barrel of Brent crude oil rose by 0.13 percent from the previous close to $79.66. At the same time, West Texas Intermediate (WTI) crude oil was trading at $74.52 per barrel.
The increase in oil prices is attributed to data indicating strong oil demand in the US, the depreciation of the dollar, and geopolitical risks in the Middle East. Additionally, a larger-than-expected decline in US crude oil inventories has been a factor supporting prices. Concerns regarding Israel's attacks on Gaza and the potential impact of regional tensions on maritime trade are also among the elements driving up oil prices.
Technically, it is noted that the $79.79 to $79.95 range can be monitored as resistance for Brent crude, while the $79.43 to $79.23 range can be monitored as a support zone.
News Source: AA
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