“Oil prices are volatile and very often showed during the previous crises both falling and rising. There is nothing surprising. Moreover, now there are a lot of changeable factors. We do not know whether there will be a new OPEC + agreement, what will happen to the coronavirus. There are a lot of uncertain moments, and because of this, there is an increase and a fall in oil prices that replace each other, ”the expert said.
Nevertheless, according to him, there is a possibility that "the price war will drag on and therefore oil can still fall."
“One can hope for the best, but prepare just in case for the worst. Anything is possible, and the situation could theoretically worsen. But the fact that oil grows periodically shows that not all market speculators are convinced that it should cost little over time. Everyone understands that if the price is small, then a large number of players will have to leave the market, ”Mitrahovich said.
Earlier, world oil prices accelerated growth.
The price of May futures for North Sea Brent crude oil rose to $ 29.05 per barrel.