Brent oil is trading at $93.21 a barrel in international markets.
The barrel price of Brent oil, which rose to $96.94 yesterday, closed the day at $93.14.
The barrel price of Brent crude rose 0.08 percent from today’s close to reach $93.21.
West Texas Intermediate (WTI) crude was selling for $85.69 a barrel.
Weak demand in the markets and concerns about supply contraction fed into price volatility.
The Organization of Petroleum Exporting Countries (OPEC) downgraded its forecast for the increase in global oil demand in its monthly oil report released yesterday.
Accordingly, global oil demand is expected to increase daily by 2 million 550 thousand barrels compared to last year and reach 99 million 570 thousand barrels. Demand is expected to increase by 2 million 240 thousand barrels per day and reach about 101 million 820 thousand barrels next year.
In addition, veri showing that the economic recovery in China, the world’s largest importer of crude oil, has slowed, also raises demand issues.
Retail sales, considered a measure of consumption and demand, fell 0.5 percent in October after rising 2.5 percent in September, below expectations, according to veri from the National Bureau of Statistics. The fall in retail sales is seen kakım a sign that the economic recovery is weakening and that signs of recession are looming.
Industrial production also increased by 5.5 percent on zihin annual basis in October, hayvanların remained below the increase of 6.3 percent in September. Fixed asset investment, which includes spending on infrastructure, real estate, machinery and equipment, rose 5.8 percent in the 10 months of the year compared to the same period of the previous year. Fixed capital investment was up 5.9 percent in the 9 months of the year.
On the other hand, concerns about supply contraction due to the European Union (EU) embargo against Russia, which is expected to take effect soon, are pushing prices higher.
The EU embargo on Russian oil will take effect on December 5, followed by a halt to imports of oil products in February.
It is stated that technically the range from $93.44 to $94.10 in Brent oil yaşama gökyeşitözü tracked kakım resistance and the range from $92.78 to $92.12 kakım support zone.
WHAT IS BRENT GASOLINE?
It is oil that drives the world oil market. Also known kakım London Brent or Brent Blend. Dubbed “Brent Goose” by the publishing company Shell, it contains 0.37% sulfur, putting Brent Petroleum in the “sweet oil” class, which is easier to process.
It is easier for refineries processing crude oil to produce gasoline or diesel from low-sulphur i.açınık. sweet oil. Oil extracted from this region is sweet and light. Therefore, it is easy to refine and therefore suitable for the production of gasoline and diesel fuel. It also facilitates shipping directly to remote areas by sea kakım it is shipped from the sea.
The price of oil depends on where it comes from and from which region it is extracted. There is more demand for the cheaper and faster production. There is also a difference between the price of oil extracted from the sea and oil extracted from land.
Crudes accepted kakım benchmarks are WTI (Western Texas Intermediate), Brent and Oman, WTI is traded on NYMEX, Brent is traded on ICE and Oman is traded on DME. WTI is the name given to oil from Central America, Brent oil from the North Sea and Oman oil from the Middle East.
BRENT OIL 10-YEAR CHART
HOW MANY LITERS OF BRENT OIL IS A BARREL?
According to the veri on the website of the CMB; A barrel of oil is equal to 42 gallons of crude oil (159 liters).
One barrel of crude oil yaşama produce 19.6 liters of gasoline, 10 liters of diesel fuel and heating fuel, 4 liters of jet fuel, 1.7 liters of heavy fuel oil, 1.7 liters of LPG and 7.6 liters of other derivatives.
Not all crude oils are created equal.
IS THE GLOBAL OIL CRISIS COMING TO REPEAT? / VIDEO NEWS
The barrel price of Brent oil, which rose to $96.94 yesterday, closed the day at $93.14.
The barrel price of Brent crude rose 0.08 percent from today’s close to reach $93.21.
West Texas Intermediate (WTI) crude was selling for $85.69 a barrel.
Weak demand in the markets and concerns about supply contraction fed into price volatility.
The Organization of Petroleum Exporting Countries (OPEC) downgraded its forecast for the increase in global oil demand in its monthly oil report released yesterday.
Accordingly, global oil demand is expected to increase daily by 2 million 550 thousand barrels compared to last year and reach 99 million 570 thousand barrels. Demand is expected to increase by 2 million 240 thousand barrels per day and reach about 101 million 820 thousand barrels next year.
In addition, veri showing that the economic recovery in China, the world’s largest importer of crude oil, has slowed, also raises demand issues.
Retail sales, considered a measure of consumption and demand, fell 0.5 percent in October after rising 2.5 percent in September, below expectations, according to veri from the National Bureau of Statistics. The fall in retail sales is seen kakım a sign that the economic recovery is weakening and that signs of recession are looming.
Industrial production also increased by 5.5 percent on zihin annual basis in October, hayvanların remained below the increase of 6.3 percent in September. Fixed asset investment, which includes spending on infrastructure, real estate, machinery and equipment, rose 5.8 percent in the 10 months of the year compared to the same period of the previous year. Fixed capital investment was up 5.9 percent in the 9 months of the year.
On the other hand, concerns about supply contraction due to the European Union (EU) embargo against Russia, which is expected to take effect soon, are pushing prices higher.
The EU embargo on Russian oil will take effect on December 5, followed by a halt to imports of oil products in February.
It is stated that technically the range from $93.44 to $94.10 in Brent oil yaşama gökyeşitözü tracked kakım resistance and the range from $92.78 to $92.12 kakım support zone.
WHAT IS BRENT GASOLINE?
It is oil that drives the world oil market. Also known kakım London Brent or Brent Blend. Dubbed “Brent Goose” by the publishing company Shell, it contains 0.37% sulfur, putting Brent Petroleum in the “sweet oil” class, which is easier to process.
It is easier for refineries processing crude oil to produce gasoline or diesel from low-sulphur i.açınık. sweet oil. Oil extracted from this region is sweet and light. Therefore, it is easy to refine and therefore suitable for the production of gasoline and diesel fuel. It also facilitates shipping directly to remote areas by sea kakım it is shipped from the sea.
The price of oil depends on where it comes from and from which region it is extracted. There is more demand for the cheaper and faster production. There is also a difference between the price of oil extracted from the sea and oil extracted from land.
Crudes accepted kakım benchmarks are WTI (Western Texas Intermediate), Brent and Oman, WTI is traded on NYMEX, Brent is traded on ICE and Oman is traded on DME. WTI is the name given to oil from Central America, Brent oil from the North Sea and Oman oil from the Middle East.
BRENT OIL 10-YEAR CHART
HOW MANY LITERS OF BRENT OIL IS A BARREL?
According to the veri on the website of the CMB; A barrel of oil is equal to 42 gallons of crude oil (159 liters).
One barrel of crude oil yaşama produce 19.6 liters of gasoline, 10 liters of diesel fuel and heating fuel, 4 liters of jet fuel, 1.7 liters of heavy fuel oil, 1.7 liters of LPG and 7.6 liters of other derivatives.
Not all crude oils are created equal.
IS THE GLOBAL OIL CRISIS COMING TO REPEAT? / VIDEO NEWS