A barrel of Brent oil is traded at $95.20 in international futures markets.
The barrel price of Brent oil, which rose to $97.44 yesterday, completed the day at $95.03.
The forward barrel price of Brent oil increased by approximately 0.2 percent compared to the closing date at 09.36 today, reaching 95.20 dollars. At the same time, West Texas Intermediate (WTI) crude oil was sold at $92.89 per barrel.
The rise in prices was due to Hezbollah’s rejection of a ceasefire with Israel and the weakening of hopes for peace in the Middle East due to the re-escalation of US-Iran tensions.
The US State Department announced that Israel and Lebanon had agreed on a comprehensive ceasefire on the condition that Hezbollah completely stops its attacks and withdraws all its elements from the south of the Litani River. However, despite the comprehensive ceasefire announced by the Israeli army, air strikes continued in various regions of Lebanon.
Hezbollah Secretary General Naim Kasim also described the US-mediated direct negotiations between Lebanon and Israel as “shameful”. Qasim rejected the ceasefire, saying they would continue fighting until Israel withdrew from Lebanese territory.
The re-escalation of military tensions in the region and the lack of concrete signs of diplomatic progress weakened expectations for a possible peace agreement between the United States and Iran, supporting prices.
On the other hand, US President Donald Trump stated that he could meet with Iranian leader Mojtaba Khamenei to make an agreement and said, “I would be honored to meet him, I would like to see if we can reach an agreement.” he said.
Noting that they are close to making an agreement with Iran, Trump stated that if an agreement is reached, Iran will agree not to have nuclear weapons and the Strait of Hormuz will be opened immediately.
Analysts point out that the oil flow in the Strait of Hormuz, through which approximately one-fifth of the oil consumed in the world passes, continues to remain below pre-war levels. Experts state that this situation keeps global supply concerns alive and note that the fact that there are no clear signs that the tension in the Middle East will decrease continues to support oil prices.
It is stated that technically $ 95.63 can be watched as resistance and $ 95.15 as support zone for Brent oil.
