Brent oil price per barrel is $83.95
Brent oil is trading at $83.95 a barrel in international markets.
As of 10:00 am today, the price of Brent oil per barrel increased by 1.32 percent compared to the closing and became 83.95 dollars. In the same minutes, West Texas type (WTI) crude oil found buyers at $77.83 a barrel.
Supply-side uncertainties and the expected supply disruption from the Organization of the Petroleum Exporting Countries (OPEC) producers were effective in the increase in oil prices. Prices soared amid escalating tensions with the Russia-Ukraine war and the prospect of new EU sanctions.
Investors focused on the meeting of OPEC+ producers on October 5, where they will decide on November production. The group had agreed to cut production by 100,000 barrels a day in October.
Oil prices fell to 9-month lows yesterday, amid fears of a global economic recession and demand concerns stemming from the rising value of the US dollar.
It is stated that technically, the range of 84.23 to 84.53 dollars in Brent oil can be followed as resistance and the range of 83.29 to 83.12 dollars as a support zone.