Oil prices are rising again – how investors can position themselves now

Dusseldorf The price of oil rose significantly after Russian President Vladimir Putin announced partial mobilization in the Ukraine war. A barrel (159 liters) of North Sea Brent cost around $93 on Wednesday, a good two percent more.

However, the annual high of 140 dollars from March is still a long way off. In July, the price was more than $120, then fell significantly to $90. This was triggered by concerns about a recession and the associated fall in demand.

In the short term, Charu Chanana believes that the price of oil could come under pressure again as a result of interest rate hikes by the central banks. In the medium term, however, the market strategist at Saxo Capital Markets is optimistic.

“A harsh European winter could lead to an increased shift from gas to oil, while tensions between Russia and Ukraine also rise,” Chanana told Bloomberg.