There has obviously been extreme volatility in the oil market over this past month.
Last month Oil was at $95 a barrel just before the invasion of Ukraine by Russia. Since then, the price of a barrel of Brent crude shot up rapidly to $139 a barrel, before settling down as we go to press at $115 a barrel.
A downturn in demand for oil is seen as one of the factors limiting the price escalation, caused by shutdowns in the global economic powerhouse that is China, due to covid.
One thing is for sure, we can expect more volatility and more supply side and demand side shocks it would seem.
