The Year In Energy Prices
R-Squared Energy
JANUARY 2, 2023
Russia’s invasion is the primary reason for prices shooting up above $120/bbl, a price level that has only ever been seen once before, in 2008. For prices to surge so high in late spring and summer is highly unusual, and again something we haven’t seen since 2008. Finally, I would add that these are spot prices, not retail prices.
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