Caixin
Mar 14, 2022 06:31 AM
WORLD

Cover Story: Why the Wild Ride for Oil and Gas Prices Isn’t Over

In a wildly volatile week, crude oil prices ended down last week after setting 13-year highs. But as the Russia-Ukraine war continues and ceasefire talks fail to make progress, the outlook is only for more volatility for energy and other commodities, industry experts said.

Crude oil futures in New York declined 5.5% last week and benchmark Brent crude prices fell 4.6%. The roller coaster reflected the imposition of Western sanctions on Russia after it invaded Ukraine Feb. 24 and the dilemma facing many European nations over how to replace supplies of oil and natural gas from Russia.

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