Watching the price of a barrel of Brent crude has changed since last month. The unleashing of war in the Middle East has changed all considerations.
With the International Energy Agency (IEA) planning to release 400 million barrels of oil reserves to help assuage the global oil market crisis you know we are in choppy waters.
An oil shock comparable to the 1970s oil shock is potentially on the cards, although we’re not there yet.
Brent crude soared to $120 in the first week of the war - before falling back sub $100. As we go to press the price of Brent crude stands at $103 a barrel. No doubt that will change!
