"Oil prices have climbed in recent weeks, spurred by concerns over supplies and geopolitical risks, including conflicts in Ukraine and the Middle East. Analysts say the momentum could carry prices higher.
The price of a barrel of Brent crude oil, the international benchmark, has risen more than 20 percent since mid-December. It has jumped more than 10 percent over the past month alone, to around $90 per barrel. “The sentiment is really bullish,” said Viktor Katona, an analyst at Kpler, a commodities research firm.
Rising oil prices could make efforts by central banks to reduce inflation more challenging.
In the United States, higher gasoline prices during the summer driving season would also be unwelcome for the Biden administration, which faces a difficult election in November.
The average price at the pump has risen about 50 cents per gallon since early January, to around $3.70, according to the Energy Information Administration." [1]
Clueless Zelensky is attacking Russian oil infrastructure with technology provided by American president Biden, this way increasing oil prices in America, and pushing his benefactor Biden out of power. Zelensky has no chances to stay in power under Biden's competitor Trump.
1. What’s behind the recent rise in oil prices. Reed, Stanley. New York Times (Online)New York Times Company. Apr 10, 2024.
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