Prezzo petrolio investing 101
This mainly stems from the fact that the supply and demand of oil tends to have a low responsiveness to price changes in the short term. On the supply side, oil production capacity can be challenging to change quickly. Drilling a new oil well is a lengthy and complex process.
On the demand side, it can be quite difficult to change equipment that uses petroleum products. For instance, in the short term, people will keep driving their cars to work despite higher gas prices. For these reasons, in order to re-balance supply and demand, it takes a sufficiently large price change to occur.
For example, if gas prices were to double, only then may enough commuters consider taking public transit or changing behavior in other ways. What kind of events can shock the system enough to drive big price changes? Squawk Box Asia Bob Yawger, director of the futures division at Mizuho Securities USA, noted that 60 million barrels does little to meaningfully move the needle and is not enough to absorb lost supply from Russia.
The number is equivalent to about 6 days of Russian production, and about 12 days of Russia's exports. That's the bottom line at the end of the day," he said. That said, Rebecca Babin, senior energy trader at CIBC Private Wealth, noted that while the move was expected it could offer a "modest buffer in the short term. On Monday, Canada said it was banning Russian oil imports, but so far it's the only nation to target Russia's energy complex directly. The financial sanctions imposed by the U.
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