The cost of Brent crude oil exceeded $91 per barrel for the first time since October 2014, according to the London ICE exchange.

As of 21.53 Moscow time, the price of a futures contract for this brand of crude oil for delivery in April 2022 increased by 1.82% to $91.1 per barrel.

At the same time, according to data as of 22.03 Moscow time, March futures for WTI crude increased by 2.01%, amounting to $90.03 per barrel. The last time the price of WTI exceeded $90 per barrel was on October 7, 2014.

Earlier, in an interview with Energy Director of the Institute of Energy and Finance Oleksiy Gromov said that the price of a barrel of oil would jump up sharply in the event of an escalation of the geopolitical crisis in eastern Ukraine, and in a negative scenario, the bar would overcome the critical threshold of $100.

He also disagreed with the opinion of Citigroup analyst Ed Morse that oil prices would fall to $65 per barrel by the end of 2022. According to Gromov, the cost of raw materials will inevitably adjust in the coming months, but this will not happen so radically - to about $75.

Citi analyst Ed Morse takes the exact opposite scenario. In his opinion, the supply of oil this year will grow rapidly after last year's pandemic drawdown. He expects oil supplies to rise by 5.5 million bpd over the next 12 months. Morse said this will happen even if the OPEC countries and their allies, including Russia, return the increase in production to 250,000 barrels per day instead of the planned 400,000.

bbabo.Net