What is the cost of Brent oil? What is the latest price of Brent crude oil? Current status of oil prices in the international market.

The price of a barrel of Brent crude oil is 72.34 dollars in the international market.

The barrel price of Brent crude oil, which rose to 71.95 dollars on Friday, ended the day at the level of 71.93 dollars. As of 09:23, the barrel price of Brent crude oil increased by 0.56 percent to 72.34 dollars compared to the closing. At the same time, a barrel of West Texas Intermediate (WTI) crude oil found buyers at 68.70 dollars. The ongoing conflicts in the Middle East and expectations that economic activity in the US and China, the world’s largest oil-consuming countries, will increase the demand for oil continue to affect the rise in oil prices. Israel continues its airstrikes in many areas in the south and east of Lebanon. Since September 17 when communication devices used by Hezbollah were detonated, a total of 1174 people, including 104 children and 194 women, have died. As a result of the Israeli bombing, hundreds of thousands of people have been displaced within the country, while Hezbollah mostly targets military bases on the Israeli side with rockets and missiles in response. Lebanon emphasizes that the conflict in the region will only end if Israel stops its attacks on Gaza. Analysts point out that employment-focused data to be announced in the US this week could provide clues on the steps the Federal Reserve (Fed) will take in the coming period, as well as expected to provide more information on the direction of the US economy. Experts state that lower-than-expected inflation indicators in the US have increased expectations that the Fed may focus on supporting the labor market and lowering interest rates. While the economic stimulus announced by the government in China last week continues to have a positive impact on the markets, the government announced that banks will reduce mortgage interest rates to address existing issues in the housing sector. The expectations that the steps taken by China to increase economic activity will also positively influence oil demand in the country support the increase in prices. It is stated that technically for Brent crude oil, the range of 72.89 to 73.78 dollars is the resistance, while the range of 70.66 to 69.10 dollars is the support zone.

WHAT IS BRENT PETROLEUM? It is the oil that sets the tone for the global oil market. It is known as London Brent or Brent Blend. The company extracting it, Shell, named it “Brent Goose”, and it contains 0.37% sulfur, making Brent Petroleum belong to the class of “sweet oil”, which is easier to process. For refineries processing crude oil, it is easier to produce gasoline or diesel fuel from low-sulfur, or sweet, oil. The oil extracted from this region is sweet and light. Therefore, it is suitable for the production of gasoline and diesel fuel due to its easy refining. Additionally, being extracted from the sea facilitates its transportation to distant regions directly by sea. The origin and region from which oil is extracted are significant for its price. Oil that is cheaper and faster to produce receives more demand. There is also a difference in price between oil extracted from the sea and oil extracted from the land.

HOW MANY LITERS IS A BARREL OF BRENT PETROLEUM? According to the data on the Capital Markets Board’s website; a barrel of oil is equivalent to 42 gallons of crude oil (159 liters). From a barrel of crude oil, 19.6 gallons of gasoline, 10 gallons of diesel fuel and heating fuel, 4 gallons of jet fuel, 1.7 gallons of heavy fuel oil, 1.7 gallons of LPG, and 7.6 gallons of other derivatives can be produced. Not all crude oils are equivalent.

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