Oil prices have fallen significantly in the year to date, which also had a noticeable dampening effect on inflation. However, this could change with the further escalation in the Middle East. Following the Iranian missile attack on Israel, Prime Minister Netanyahu announced retaliation.
Oil prices have been rising steeply for several weeks. The prices of the most important oil companies have also risen. How can investors profit?
The annual Spring Meetings of the International Monetary Fund and the World Bank bring together high-ranking representatives from business, the financial sector and politics. Fund manager
Tolgahan Memişoğlu reports on his impressions.
Hopes were pinned on a significantly higher increase to put the brakes on the soaring oil prices. At present, it is mainly the oil companies that are benefiting from this, as they recently reported record profits.
After the oil price climbed to its highest level since 2008 in the previous week, the countries want to end their dependence on Russian oil and natural gas supplies.
Energy prices are going through the roof at the moment. The causes are both political and economic. Shares in the energy and commodities sector offer potential for further price increases.
Crude oil prices continued to soar in the past week. The background to the oil price increases lies in the rising demand for oil combined with the ongoing economic recovery and fears of tight supply. The price surge in recent days was triggered by a drop in oil reserves reported by the US government on Wednesday.
The rise in oil and energy prices is fueling concerns about a burgeoning inflation. Behind the failure of the latest OPEC negotiations is also a political competition for influence and power in the Gulf region.
The eyes of the international business world are currently fixed on Vienna. At the OPEC headquarters in downtown Vienna, the oil cartel’s member states and its allies are currently haggling over production volumes, and thus the further development of oil prices, via video conference.
