Oil prices hit multi-year highs this week as Covid recovery and coal, electricity and natural gas shortages are fueling demand for crude. “It has a direct knock off effect, so people have been securing future oil and current oil and that is squeezing the market again. 

The oil price will go up,” Justin Urquhart Stewart, co-founder of Regionally, a UK regional investment platform, told New Europe’s Energy Insider by phone on October 18.

 

https://www.neweurope.eu/article/covid-recovery-supply-chain-woes-ratchet-up-oil-prices/

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