Crude Oil Forecast for March: We would be more than willing to look at lower pricing as an opportunity to get back into a market that has a longer-term uptrend ahead of it. Read more:
This is a bit surprising considering that Russia has invaded Ukraine, and there of course was a natural reaction that the price of oil was going to go higher.However, Western democracies seem to have stepped aside and let Russia get on with an invasion, and therefore the idea of a larger ground war in the European Union seems to have been averted for the time being.
This panic bid for crude oil is more than likely going to kick off a little bit of a pullback, but the crude oil markets are the same as they have been for months, meaning that they are a “buy on the dip” type of situation. As long as demand continues to pick up, we will have trouble catching up with supply. There is talk of the US releasing oil from its Strategic Petroleum Reserve, but at this point in time it is not very likely to affect price for more than a few days.
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