Although the high was not repeated in yesterday's trading, Brent is still trading above $100 again today on the NYMEX. New western sanctions on Russia and Belarus were primarily responsible for oil prices soaring to $1.97/barrel yesterday. Today, Tuesday, the International Energy Agency will hold an extraordinary meeting on the current market environment. Speculation is spreading that large economies like the US are using their strategic oil reserves to stabilize the market.
Source
VR AgrarBeratung AG
