The price of Brent oil fell to December 2021 levels

After a week of banking turmoil in the US and Europe, the situation has already begun to affect Russia, but tangentially. Due to unrest in the market, speculators began to sell oil futures and prices for black gold went down.

Today, the cost of a barrel of Brent has dropped to $72. The last time oil cost this much was in December 2021. It is too early to talk about any panic sales.

In addition, experts are looking positively at oil prices, as China recently lifted all of its covid restrictions and begins to consume fuel at full capacity.

Another curious detail in the issue of oil trade was revealed today, when the Ministry of Finance of Japan published its statistics. It follows from this that Tokyo, although it supported the introduction of a price ceiling for Russian oil in January of this year, did not comply with it itself and bought Russian fuel at an average price of almost $70 per barrel.