Brent oil price fell

The barrel price of Brent oil, which completed the day at $ 90.46 yesterday, became $ 86.56 with a decrease of 4.31 percent as of 16.45 today. In the same minutes, West Texas type (WTI) crude oil found buyers at $79.22 a barrel. The barrel price of Brent oil was last traded at $86 on January 25.

REcession Concern WAS EFFECTIVE IN THE FALL

The economic recession concerns that emerged after the central banks’ accelerating rate hike decisions and the increasing dollar were effective in the decline in prices.

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While the central banks’ aggressive interest rate hikes continued with the expectation of increasing inflationary pressures on a global scale, the central banks of England, Norway, Switzerland, Taiwan, South Africa, Philippines and Indonesia increased their policy rates yesterday after the Fed.

The increase in the dollar index, which measures the value of the US dollar against other currencies, makes oil more expensive for buyers who use other currencies, while also feeding the perception that demand may decrease further.

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