Brent Crude Oil Price Exceeds $ 80

On Monday, November 24, oil trading closed with growth. A barrel of Brent rose 3.50% to $ 82.25. Growth in oil prices after J. Biden's decision to sell 50 million barrels of oil from the country's strategic reserve. Along with the US statement, India, China and Japan may also sell oil from strategic reserves.

In theory, the price should have fallen due to the increase in the supply of oil on the market, but it rose. OPEC said that at any time they can revise production volumes downward according to the previously concluded agreement. Perhaps the market participants were counting on more oil sales.

On Wednesday, November 24, at trading in Asia, a barrel of Brent is worth $ 82.27. Buyers were able to fight off the $ 78 support. Now they only need to fix the price above 83.40. A decline to 80.90 is expected before the new rise as part of the correction.