The barrel price of Brent oil fell by more than 5 percent in international futures markets due to the statements that the USA and Iran are close to reaching an agreement.
The barrel price of Brent oil, which rose to $102.77 on Friday, finished the day at $100.21.
The forward barrel price of Brent oil decreased by approximately 5.1 percent compared to the closing time at 09.08 today, reaching 95.10 dollars. At the same time, West Texas Intermediate (WTI) crude oil decreased by 5.6 percent and was sold at $91.20 per barrel.
Statements that the USA and Iran were close to reaching an agreement were effective in the decline in prices.
US President Donald Trump, in his post on his social media account yesterday, stated that negotiations with Iran were progressing in an “orderly and constructive” manner.
Stating that they will not rush to find a good deal, Trump noted that the US naval blockade of Iranian ports will continue to be implemented until an agreement is reached.
These developments have strengthened the expectations that the two countries may come close to reaching an agreement on the re-operation of the Strait of Hormuz and the uninterrupted maintenance of oil supply.
Experts estimate that it will take months for the oil flow through the Bosphorus to return to normal until the repair of damaged oil and natural gas facilities is completed.
It is stated that technically $ 107.19 can be watched as resistance and $ 92.93 as support zone for Brent oil.
