New flare-up in oil prices. Brent futures recovered momentum above $ 106 a barrel, with a daily rise of around 8%. Rise of 7.6% to 102.5 dollars instead for the WTI:
The International Energy Agency (IEA) said markets could find themselves in a month’s time with three million barrels per day (bpd) of Russian crude oil and refined products less. A loss of supply far greater than the expected decline of one million bpd per day due to the increase in fuel prices.
Morgan Stanley estimates a decline in Russian production of around 1 million barrels per day since April, higher than the estimated decline in global demand of around 600,000 barrels per day.
The home business sees Brent at $ 120 in the third quarter, which is $ 20 more than previously forecast.