Oil price development

The current year has been dominated by crashes on the stock markets. Oil prices initially followed a clear downward trend. From February onwards, investors fled from the dollar into the supposedly recession-proof crude oil. The price climbed to a record high of USD 146 per barrel. The trend reversed from the middle of the year. The overpriced crude oil was now increasingly slowing down the global economy
out. Investors began to withdraw from commodity investments again and this triggered a very strong downward trend in the price of crude oil. With renewed crashes by US banks in September, oil prices even fell well below the USD 100 mark. Due to supply bottlenecks, crises, a lack of investment (in production and exploration) and the effects of speculation, renowned analysts expect the price of crude oil to rise again to record levels.