Brent crude fell to $77 a barrel for the first time since the end of 2021

On Wednesday evening, the cost of February futures for Brent crude fell by 2.9% to $77.03 per barrel, at the moment this figure was below $77. January WTI futures fell 3.2% to $71.88.

On the eve of the US Department of Energy lowered the forecast for the cost of Brent oil in 2022 from 102.13 to 101.48 dollars per barrel. This follows from the data of the monthly forecast of the department’s energy information department.

At the same time, earlier commenting on the situation on the oil market to RG, Vladimir Evstifeev, head of the analytical department of Zenit Bank, noted that the oil market had found the strength to recover from the lows of the current year. He called the situation with quarantine restrictions in China, which negatively affect demand prospects, the main downside risk. Also, no less important factor for the oil market, according to him, is the agreement within the EU of the size of the marginal price for Russian oil.

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