The barrel price of Brent oil increased by 8.4 percent in international futures markets and exceeded 116 dollars.
The barrel price of Brent oil, which rose to $111.90 yesterday, finished the day at $107.38.
The barrel price of Brent oil increased by 8.4 percent compared to the closing time at 11.44 today, reaching 116.45 dollars. At the same time, West Texas Intermediate (WTI) crude oil was sold at $96.41 per barrel.
Oil prices continue to rise after the attack on some refineries of the South Pars natural gas field, located in the Persian Gulf, south of Iran. Israel, which claimed responsibility for the attacks on the country’s largest natural gas processing facility, carried out an attack on natural gas facilities in Iran for the first time after the attacks they initiated with the USA.
It was also reported that Iranian missile attacks on the Ras Laffan region, where Qatar’s main liquefied natural gas (LNG) processing facilities are located, caused “widespread damage” to the energy infrastructure. Saudi Arabia announced that four ballistic missiles directed towards Riyadh were destroyed and a drone attack on a natural gas facility was prevented.
Kuwait Petroleum Company also announced that the Mina Abdullah Refinery was targeted with a drone and a fire broke out in the facility.
These developments increase supply concerns and support oil prices upwards. Experts state that the escalation of tension in the Middle East, pinpoint attacks on oil infrastructures and losses in the Iranian administration indicate long-term disruptions in oil supply.
US President Donald Trump, on the other hand, stated that there will be no further attack on the South Pars gas field by Israel unless Iran decides to attack Qatar, and said, “If such a situation occurs, the USA will blow up the entire South Pars gas field with force and violence that Iran has never seen or witnessed before, with or without Israel’s help or approval.” he said.
It is stated that technically, in Brent oil, $ 115.21 can be watched as resistance and $ 112.14 can be watched as support.
