19.05.2025 12:11
The price of Brent crude oil was trading at $65.04 per barrel on the first business day of the week, while the decline in prices was influenced by the uncertain policies of the U.S. Federal Reserve and the increase in global oil supply.
The barrel of Brent crude oil is trading at $65.04 in international markets on the first business day of the week. The price of Brent crude oil, which rose to $65.54 on Friday, closed the day at $65.41. As of 09:00 today, the price of Brent crude oil has decreased by approximately 0.56% compared to the closing price, reaching $65.04. At the same time, the barrel of West Texas Intermediate (WTI) crude oil found buyers at $61.63.
PRICES ARE UNDER PRESSURE
The changes in prices are influenced by uncertainties in the monetary policy strategies of the U.S. Federal Reserve, the Russia-Ukraine peace negotiations, and news flow indicating that global oil supply is expected to increase. Although the tariff tensions between the U.S. and China have temporarily eased, there are still questions regarding the outcomes of the economic and trade policies implemented by U.S. President Donald Trump under his "America First" policy. On the other hand, the International Energy Agency (IEA) has pressured prices with its forecast for an increase in global oil supply for this year. According to the IEA's Oil Market Report, global oil supply increased by approximately 160,000 barrels per day in April compared to the previous month, rising to 104 million 460 thousand barrels. It is noted that technically, $67.08 can be observed as a resistance level and $60.10 as a support level for Brent crude oil.