BRNUSD

Brent crude oil prices continue to trend downward due to concerns that demand will remain weak, given the insufficient perception of the debt restructuring package announced in China and the slow pace of inflation. The decline observed in Asian markets and the strengthening of the US Dollar can have negative impacts on global trade. Negative expectations regarding the Chinese economy, in particular, are putting pressure on oil demand. However, disruptions in natural gas production in the US due to hurricanes did not lead to a recovery in oil prices.

Technically, Brent crude oil prices are trading at the level of 71.50. On the daily chart, upward movements can face resistance at the levels of 72.00 and 72.50, while downward movements can find support at the levels of 71.00 and 70.50. The RSI indicator is at 41 and shows a negative outlook. Brent, which is down by 0.47% compared to the previous day, may continue to be affected by weak demand and global economic conditions.