Volatile course in Brent oil: Asset prices exceed 100 dollars again
Following the inventory increases and production data announced in the US, activity was observed in oil markets and the price per barrel rose above 100 dollars.
With US oil inventories registering an increase contrary to expectations and crude oil production rising, the barrel price of Brent oil exceeded 100 dollars during the day, following a volatile course.
Intraday fluctuations
The December futures price per barrel of Brent oil saw 100.16 dollars in the morning hours before recording a decline again.
US inventory data
According to US Energy Information Administration data, the country's commercial crude oil inventories increased by approximately 900 thousand barrels last week.
While market expectations were for inventories to fall, daily crude oil production also increased, reaching 13 million 955 thousand barrels.
Administration statements
US President Donald Trump stated that a high volume of oil transit is being provided from the Strait of Hormuz.
Energy Secretary Chris Wright emphasized that American refineries are performing production at record levels.
Technical levels
Technical levels for Brent oil are being closely monitored by market analysts and experts.
In the current outlook, 101.66 dollars is monitored as the resistance point, while 91.48 dollars is followed as the support zone.