17:01 16 March 2026
High fuel prices will continue into the holidays and beyond
The International Energy Agency announced that 32 OECD countries will release 195.6 million barrels of crude oil from strategic reserves by the end of March, along with 76.1 million barrels of fuels, mainly diesel, to increase supply and lower prices. In total, about 400 million barrels of oil and fuels could reach the market. However, the announcement has not reduced global oil prices. Brent crude is trading around USD 106.50 per barrel, while U.S. WTI stands near USD 96.70.
Market tensions remain high due to supply disruptions in the Persian Gulf and Iranian drone attacks on oil infrastructure. Some countries have also refused to escort tankers through the Strait of Hormuz. As a result, analysts expect fuel prices in Europe to remain high through the summer.
(wnp.pl)
