Sanctions keep affecting the supply diversification. It’s not sure how will the following days shape so civilians, investors and big companies are following, we may say, indefinite fluctuations of Brent and WTI.
The price has increased by ca. 20% since the beginning of the war on February 24th. As the chart below shows the price was interacting with the news about crude oil inventories, testimonies of countries’ leaders and all the communication.
Crude Oil Price Chart – 24/02-21/03
Today crude oil has gained ca. X% opening higher as the war goes on and there’s no significant signal that it’s coming to an end. Ukrainians don’t surrender in Mariupol and, according to Bloomberg, Kremlin says that consequences of sanctions will seriously impact Europe.
Crude Oil Price Chart 21/03/22 – [UPDATE: 14:05 GMT]
It’s not sure what can we expect from the following days. A thing we can be sure of is that we should follow the Crude Oil Inventories release on Wednesday. Follow us on Twitter to check the markets’ reaction and don’t miss a thing!
Source: Investing.com, Bloomberg.com
Charts: Courtesy of TradingView.com
