WTI is currently showing slight daily losses, while Brent is still bullish today. The supply on the crude oil markets is not excessive, but at the same time demand is extremely solid. The conflict in the Black Sea region is definitely depressing the mood and causing uncertainty. Important oil-producing countries have already signaled that they do not want to take any market shares from Russia in the current situation. Since the beginning of the year, the price of North Sea Brent has risen by $14.29/barrel. Brent crude oil is currently trading at $92.81 per barrel. WTI costs $91.37/barrel.
Source
VR AgrarBeratung AG
