If petrol becomes more expensive than wine, the French are not happy with it. The price of oil has increased exponentially in recent weeks due to tensions in crude oil markets around the world from Iran to Nigeria. To deal with this situation, the United States has proposed making use of fuel reserves and France has followed suit. The French Energy Minister, Eric Besson, has announced that Paris is willing to proceed along this line. France "is in favor of drawing on oil reserves," the minister said. The USA made the proposal and “France has welcomed this hypothesis. Now we await the opinion of the International Energy Agency” (IEA).
Yesterday in London, the barrel of Brent, North Sea oil, was back above 126 dollars, while in various European countries fuel prices stabilized new all-time highs. Today Brent yields part of the increases to 124,27 dollars, $1,31 lower than yesterday's close. But December 2018 delivery futures give Brent $95: nearly $30 less than its current valuation.
If some analysts explain this phenomenon by forecasting an increase in the supply of oil in the coming years thanks to new extraction techniques, there are those who wonder if the rush for black gold is not just over.
