Brent crude oil price at $79.09 per barrel

The price of a barrel of Brent crude oil, which rose to $80.10 on Friday, closed the day at $78.80. As of 09:11 today, the price of a barrel of Brent crude oil increased by 0.37 percent compared to the closing price, reaching $79.09. At the same time, a barrel of West Texas Intermediate (WTI) crude oil was finding buyers at $73.80.

There was no trading in oil markets yesterday due to the Christmas holiday. The actions of the Houthis in Yemen targeting ships in the Red Sea continue to have an impact on oil prices. Israel's attacks on the Gaza Strip and the rising tension in the Middle East, which holds the majority of global oil reserves, are supporting the upward movement of oil prices.

Houthi military spokesperson Yahya Saree announced on his X account on November 19 that they would target all Israeli-flagged ships in response to Israel's attacks on the blockaded Gaza Strip. The world's largest container shipping company, the Italian-Swiss joint venture Mediterranean Shipping Company (MSC), as well as Maersk, the German transport company Hapag-Lloyd, the French shipping company CMA CGM, and the British energy company bp, have announced that they have suspended all their voyages in the Red Sea for security reasons.

While the attacks on commercial ships in the Red Sea and the consecutive decisions taken by companies have increased concerns that a global supply chain crisis could occur, the possibility that the problem could expand to include energy shipments has pushed prices upward.

It is stated that technically, the $79.21 to $79.27 range can be monitored as resistance for Brent crude oil, while the $78.99 to $78.94 range can be monitored as the support zone.