How much was Brent oil price? (March 28, 2023 oil prices) – Last Minute Economy News
Brent petrol How many dollars?
Brent oil is trading at $77.56 a barrel in international markets.
The barrel price of Brent oil, which rose to $ 78 yesterday, completed the day at $ 77.76. The barrel price of Brent oil was $77.56, down 0.26 percent compared to the close as of 09:58 today. In the same minutes, West Texas type (WTI) crude oil found buyers at $72.83 a barrel.
Oil prices are mixed due to concerns about global economic growth and uncertainties about oil demand.
The World Bank reported that the average potential growth of the global economy is expected to decline to a 30-year low of 2.2 percent per year between 2022 and 2030.
Indermit Gill, World Bank Chief Economist and Senior Vice President of Development Economics, commented on the report, „The global economy is on track to live a lost 10 years.“ made its assessment.
The purchase of loans and deposits by First Citizens Bank of Silicon Valley Bank, which started the banking crisis in the USA, strengthened the expectations that the worst of the crisis may be behind.
However, while the concerns that the pressure on the banking sector in the country might trigger a recession continue to be influential on prices, uncertainties regarding the monetary policy of the US Federal Reserve continue.
On the other hand, expectations of recovery in demand in China support prices. China’s National Petroleum Corporation reported that apparent oil demand in the country could rise 5.1 percent this year to 756 million tons.
It is stated that technically, the range of 77.75 to 78.03 dollars in Brent oil can be followed as resistance and the range of 77.47 to 77.19 dollars as a support zone.
WHAT IS BRENT PETROL?
It is oil that drives the world oil market. Also known as London Brent or Brent Blend. Named „Brent Goose“ by the issuing company Shell, it contains 0.37% sulfur, which makes Brent Petroleum in the „sweet oil“ class, which is easier to process.
It is easier for refineries that process crude oil to produce gasoline or diesel fuel from low-sulphur, that is, sweet oil. Oil extracted from this region is sweet and light. Therefore, it is easy to refine and therefore suitable for the production of gasoline and diesel fuel. It also facilitates shipping directly to remote areas by sea as it is shipped off the sea.
For the price of oil, it is important where it comes from and from which region it is extracted. The cheaper and faster production is more demanded. There is also a difference between the price of oil extracted from the sea and oil extracted from land.
Crude oil types accepted as benchmark are WTI (Western Texas Intermediate), Brent and Oman, WTI oil is traded on NYMEX, Brent oil is traded on ICE and Oman oil is traded on DME. WTI is the name given to oil extracted from Central America, Brent oil from the North Sea, and Oman oil from the Middle East.HOW MANY LITERS OF BRENT OIL IS A BARREL?
According to the data on the CMB’s website; One barrel of oil is equivalent to 42 gallons of crude oil (159 liters).
19.6 gallons of gasoline, 10 gallons of diesel fuel and heater fuel, 4 gallons of jet fuel, 1.7 gallons of heavy fuel oil, 1.7 gallons of LPG and 7.6 gallons of other derivatives can be produced from a barrel of crude oil.
Not all crude oils are equivalent.
IS THE GLOBAL OIL CRISIS REPEAT? / VIDEO NEWS
This news has been translated by google translate.
Artificial intelligence has reinterpreted this news for you.
The article states that Brent oil is currently trading at $77.56 a barrel in international markets.
