Oil price began its rise in December 2021, long before Russia/Ukraine events.
https://tradingeconomics.com/commodity/crude-oil
Non event. The price of oil need not be supply/demand dependent. Money is created whimsically from nothingness by the Fed. It’s silly to presume anything measured by it needs to conform to any rules.
“Oil price began its rise in December 2021, long before Russia/Ukraine events.”
What an ignorant statement. All fall we were hearing reports about over 150,000 Russian troops stationing along all the Russian borders with Ukraine, including the ones in Belarus. My nerves were being affected, so I’m sure the oil executives were feeling it. Also December 2021 to February 2022 can HARDLY be described as LONG BEFORE. So I would say this “war” certainly had something to do with higher oil prices.
Part of what is helping lower prices is the fact that Europe has pretty much filled its fuel storage sites, and Europe is having some unusually warm winter weather.