WED, MARCH 16, 2022 • S1 E133 • 6 MIN 34 SEC
Do Lower Oil Prices Mean Lower Gas Prices? Probably not!
Oil prices soared when President Biden announced there would be oil sanctions imposed against Russia. The combination of less supply from Russia, and the Ukraine war itself, was reflected in an indicator known as the Brent Crude futures Contracts; Brent Crude is a reliable benchmark. And with pending oil sanctions, Brent Crude shot up to 130. And predictably, gasoline prices skyrocketed, as well. But oil prices are back down again, nearly to pre invasion levels of 93, as of today, March 15, even though there's still a war, and sanctions against Russian oil continue. Brent Crude is at 98. Why is that? And if oil prices, in fact, stay at these lower levels, will gas prices come back down, as well? Stephen Gould, Wall Street finance and energy markets teacher at Deutsche Bank and Morgan Stanley, weighs in.
WED, MARCH 16, 2022