At the beginning of the pandemic, it dropped to $ 15 and even saw -40 dollars in futures contracts, but today it increased to 128 dollars. First, oil and commodity prices increased due to the global inflation wave, and then they reached incredible figures due to the war.
Russia's war, after the Fed's failure to fight inflation, is dragging the whole world towards hyperinflation. What happens is to developing countries like ours with weak economies. Since we do not have a policy to fight inflation other than saying lower prices to the markets, life is getting more expensive day by day.
This is true but this could be the last great high of oil, due to the world waking up to they independence on russian oil and gas a lot of green company are starting to get a lot more views and intrest.
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