Oil fell about 10%. How much is Brent oil price in Turkey? (July 6, 2022 oil prices)

How much is Brent oil in dollars? 6 July Brent oil price how much was the last? The latest situation in oil prices in the international market.

How much is Brent oil in dollars?

Another drastic effect of recession fears was seen in oil.

After the energy sector employees in Norway announced that they would go on strike, it was noteworthy that the oil dropped sharply despite the increasing supply-side concerns.

The closest futures barrel price of Brent oil rose by 1.4 percent to $104.18 per barrel, taking some of its losses in the first transactions, after falling by 9.5 percent yesterday to the lowest level in two and a half months due to concerns that global economic growth would slow down demand.

Brent oil is traded at $104.45 a barrel in international markets.

The contraction in global oil supply and the concerns that the contraction would continue to increase were effective in the rise in prices.

Former Russian President Dmitriy Medvedev warned yesterday that Japan’s proposal to lower the price of Russian oil to about half of its current level would result in a significant loss of oil in the market and could push prices above $300 to $400 a barrel.

The Norwegian government has announced that it has intervened to resolve the wage dispute between oil and gas workers and employers, and that the issue has been delegated to an independent board. While the said step ended the strike, it was estimated that daily gas exports would decrease by 56 percent due to the strike, causing 341,000 barrels of oil to be withdrawn from the market.

On the other hand, recession concerns and uncertainties regarding inflation continue to suppress prices throughout the world, especially in the USA. Experts therefore predict that the current rise in oil prices will be short-term.

On the other hand, it was announced that Mohammed Sanusi Barkindo, Secretary General of the Organization of Petroleum Exporting Countries (OPEC), passed away.

Nigerian National Petroleum Corporation (NNPC) Group Executive Director Mele Kyari stated that Barkindo passed away at 23.00 yesterday, in his post on his Twitter account, “It is a great loss for his family, NNPC, our country Nigeria, OPEC and the entire energy sector. The funeral is a great loss. Details on the ceremony will be announced shortly.” used the phrases.

It is stated that technically, the range of 105.36 to 106.74 dollars in Brent oil can be viewed as a resistance and the range of 103.05 to 102.12 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 to be in the “sweet oil” class, which is easier to process.

For refineries that process crude oil, it is easier to produce gasoline or diesel fuel from low-sulphur, that is, sweet oil. The 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.

HOW MANY LITERS OF Brent IN 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 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.

What are the oil prices in Turkey?

According to current fuel pump prices;

The liter price of diesel in Istanbul is 26.69 TL by train.

Gasoline liter averages 25.20 TL per liter.

Click for current fuel prices

ISTANBUL

Last Updated: 06 July 2022