How many dollars is Brent oil? What was the latest price of Brent oil? The latest status of oil prices in international markets… The barrel of Brent oil is trading at $74.37 in international markets. The barrel price of Brent oil, which rose to $74.61 yesterday, ended the day at $74.17. As of 09:42, the price of a barrel of Brent oil increased by 0.2 percent to $74.37 compared to the closing rate. At the same time, a barrel of West Texas Intermediate (WTI) crude oil found buyers at $70.39. ECONOMIC ACTIVITY HAS INCREASED Oil prices rose yesterday as expectations of increased economic activity in the United States, the world’s largest consumer of crude oil, emerged following strong retail sales data announced in the U.S. According to the data, retail sales rose by 0.4 percent in September, reaching $714.4 billion compared to the previous month. Analysts stated that the increase in retail sales supported the view that the economy maintained its growth rate in the third quarter. Furthermore, the number of first-time unemployment insurance applicants in the country fell to 241,000 in the week ending October 12, indicating a softening in the U.S. labor market since the peak following the outbreak. Data showing an increase in economic activity in the U.S. fueled market players’ appetite, supporting the rise in oil prices. EXPECTATIONS FROM THE FED ARE CHANGING Meanwhile, while the U.S. Federal Reserve (Fed) is still expected to cut policy rates by 25 basis points next month, it is also anticipated to make a total cut of 50 basis points in two meetings by the end of the year. It is considered that low interest rates will increase demand for oil by causing the U.S. dollar to depreciate against other currencies. The U.S. Dollar Index fell by 0.22 percent to 103.60 at 09:38 (06:38 GMT) compared to the previous trading session. EFFORTS TO REVITALIZE THE REAL ESTATE SECTOR Additionally, the announcement of some gradual policy steps by the Chinese government over the past 3 years to revitalize the declining real estate sector also had an impact on oil prices. Minister of Housing and Urban-Rural Development Ni Hong, during a press conference held in Beijing, noted that credit support for construction projects meeting the prerequisites would be increased to $560 billion by the end of the year. Minister Ni pointed out that $310 billion had been transferred to qualifying real estate and housing projects under the “white list” so far, and that efforts to renew urban-rural and dilapidated buildings would be accelerated, with an additional 1 million housing renewals and compensation provided to residents in those areas. The steps taken to revitalize the real estate sector and housing market, which negatively affect economic growth in China, the world’s largest oil importer, eliminate concerns about demand and support prices upwards. Technically, it is stated that $80.43 is the resistance level and $70.04 is the support level for Brent oil.