“There are many factors in the oil market, and they are in dynamics,” the expert explained.
He believes that further efforts to put pressure on Russia under sanctions can contribute to the rise in prices.
“Sanction pressure will be perceived by market players as a reason to increase, as a reason to believe that oil may not be enough,” Mitrahovich said.
The second reason for the rise in prices, he called the abolition of coronavirus restrictions in China.
But at the same time, as the specialist clarified, if the lockdowns continue, if there are no signs of creating a new OPEC + agreement, then the price may decrease.
Earlier it became known that the price of Brent crude oil exceeded $107.