BRNUSD

Brent oil prices are trying to stabilize amidst the tension between Ukraine and Russia, and the American Petroleum Institute's announcement of a 4.8 million barrel increase in inventories. The cautious stance in global markets also influences oil. While Asian indexes are following a calm trend, the limited rise in U.S. 10-year bond yields and the increase in the dollar index are noteworthy. The trends in European and U.S. stock markets and the inventory figures to be announced by the U.S. Energy Information Administration could be decisive in oil pricing.

Technically, Brent oil prices are trading in the 72.50 - 73.00 support range on 4-hour charts. As long as this level is maintained, upward movements are expected to continue. Resistance levels to monitor for upward movements are 73.50 and 74.00. The RSI indicator shows a neutral outlook at the 51 level. Trading with a 0.09% increase compared to the previous day, if oil cannot maintain support at 72.50, the levels of 72.00 and 71.50 could come into play.