How much is Brent oil? How much was the last price of Brent oil? The current situation in oil prices on the international market…

Oil prices have recorded a sharp decline due to recent developments in the Middle East. The barrel of Brent oil is trading at $72.55 in international markets. While Brent oil rose to $75.74 on Friday, it could not sustain at this level and ended the day at $75.55. As of 09.34 today, the barrel price of Brent oil decreased by approximately 4% to $72.55 compared to the closing price. At the same time, West Texas Intermediate (WTI) crude oil found buyers at $68.53 per barrel. How did ISRAEL’S ATTACK AFFECT OIL? The decrease in oil prices was influenced by the fact that Israel’s air attack on Iran was not as severe as feared and the decrease in risk perception in global markets. Concerns that Israel would launch a major attack on Iran in the Middle East, where most oil resources are located, and that the conflict would spread over a wide area and negatively affect oil supply had been driving oil prices up for a while. The lighter-than-expected outcome of the attack and Israel’s air strike on Iran not affecting oil facilities supports the decline in oil prices. Israel announced on October 26 that it had carried out attacks on military targets in Iran as a “retaliation” for Iran’s missile attacks on October 1 and had successfully completed the attacks. Iran had announced that some military points were targeted in Tehran, Khuzestan, and Ilam provinces in the west of the country, and that air defense systems “successfully” responded to the attacks, but “limited damage” occurred in some points. In contrast, Iranian President Ebrahim Raisi said they did not want war, but they would protect their rights and respond appropriately to Israel’s aggression. Dollar Strengthens, Oil Weakens Additionally, the appreciation of the US dollar against other currencies also contributed to the decline in oil prices. The US dollar index increased by 0.19% to 104.32. The strong dollar is expected to make oil more expensive for those using foreign exchange, reducing demand. On the other hand, economic data to be announced in the US this week will be closely monitored in global markets. Analysts expressed that the signals from employment and growth data to be announced this week could be decisive for the steps the Federal Reserve (Fed) will take in the future, stating that these data are expected to provide more information on the course of the US economy. Technically, it is stated that $80.03 is the resistance level and $71.34 can be seen as the support level for Brent oil.