Brent oil is traded on international markets at $79 a barrel.
The barrel price of Brent crude, which rose to $82.70 yesterday, ended the day at $77.84.
Brent oil prices rose 1.5 percent from today’s close to $79.
West Texas Intermediate (WTI) crude was selling for $74 a barrel.
The weak dollar and the easing of Covid-19 restrictions in China supported the demand outlook.
The fall in the dollar index, which measures the value of the US dollar against other currencies, makes dollar-denominated oil cheaper for buyers using other currencies. This supports the increase in purchases and causes prices to rise. However, lingering concerns about the global recession are dampening price increases due to fluctuating short-term economic indicators in the US and China, the world’s two largest oil consumers.
In the US, the Procurement Management Institute’s manufacturing index fell 0.6 points from the previous month to 48.4 in December, indicating that the manufacturing sector contracted for the second month in a row.
Although the number of JOLTS job openings in the country fell to 10 million 458 thousand in November last year, it fell below market expectations.
Fed minutes released yesterday showed members believe inflation is unacceptably high and interest rates should remain high for some time to come.
In China, the world’s largest oil importer, the continued rise in cases despite the easing of Covid-19 restrictions has raised concerns about the country’s economic outlook.
The Chinese government increased export quotas for refined petroleum products in the first quarter of 2023, pointing to weaker expectations for domestic demand.
On the other hand, the countries of the European Union (EU) and non-EU Schengen countries have agreed to take coordinated measures due to the increase in Covid-19 cases in China.
It is argued that technically the range from $79.02 to $79.12 in Brent oil yaşama gökyeşitözü viewed kakım resistance, and the range from $78.73 to $78.54 kakım support.
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 issuing 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.
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 crude, which rose to $82.70 yesterday, ended the day at $77.84.
Brent oil prices rose 1.5 percent from today’s close to $79.
West Texas Intermediate (WTI) crude was selling for $74 a barrel.
The weak dollar and the easing of Covid-19 restrictions in China supported the demand outlook.
The fall in the dollar index, which measures the value of the US dollar against other currencies, makes dollar-denominated oil cheaper for buyers using other currencies. This supports the increase in purchases and causes prices to rise. However, lingering concerns about the global recession are dampening price increases due to fluctuating short-term economic indicators in the US and China, the world’s two largest oil consumers.
In the US, the Procurement Management Institute’s manufacturing index fell 0.6 points from the previous month to 48.4 in December, indicating that the manufacturing sector contracted for the second month in a row.
Although the number of JOLTS job openings in the country fell to 10 million 458 thousand in November last year, it fell below market expectations.
Fed minutes released yesterday showed members believe inflation is unacceptably high and interest rates should remain high for some time to come.
In China, the world’s largest oil importer, the continued rise in cases despite the easing of Covid-19 restrictions has raised concerns about the country’s economic outlook.
The Chinese government increased export quotas for refined petroleum products in the first quarter of 2023, pointing to weaker expectations for domestic demand.
On the other hand, the countries of the European Union (EU) and non-EU Schengen countries have agreed to take coordinated measures due to the increase in Covid-19 cases in China.
It is argued that technically the range from $79.02 to $79.12 in Brent oil yaşama gökyeşitözü viewed kakım resistance, and the range from $78.73 to $78.54 kakım support.
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 issuing 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.
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