While everybody was wondering about the end of the COVID-19 pandemy and Russia invaded Ukraine what started affecting the markets. Obviously natural gas and crude oil price are volatile recently. EU leaders accompanied by Joe Biden discuss outlooks and most probably next sanctions.
As we wrote in the report about natural gas price the rise started to confuse the world few days after the invasion. It seems that all sanctions and fail of ceasefire negotiations made the crude oil price rise gain momentum. In the middle of March prices got back to the levels of the beginning of the month, but aggressive rhetoric of Russia made BRENT and WTI trading higher again.
Let’s have a look at the Crude Oil Price monthly chart (courtesy of TradingView.com)
5-days chart (courtesy of TradingView.com) of Crude Oil Price shows a significant rise in recent days
Data/Source: TradingView.com
Charts: Courtesy of TradingView.com
