Washington puts an embargo on Russian oil. As a result, the price of black gold has shown quite exceptional volatility this week.

On Monday, the price of the Brent contract, delivery in May 2022, jumped to $139.16 at the session high and the MGW hour (gas) contract soared to €247. Fears of a total stoppage of gas and oil imports from Russia by the United States and Europe justified such an evolution in black gold prices. The confirmation, the next day, of this embargo by Washington, only for American soil, combined with that of London for the end of the year, supported the courses.

It took Europe to clarify its intentions for the market to relax at the margin and for the price of Brent to return to around $112 a barrel, slightly below the levels of Friday March 4 (and €141 for gas). Indeed, the European Union is too dependent on Russian hydrocarbons. Operators hope that the cartel of exporting countries (OPEC) will make a move to appease the market.