Russia is a bit of an enigma to many of us Americans, but looking at European energy prices helps our understanding. Oil in Europe (Brent) has been falling in price since 2011. This surprises us in the United States, where oil (in West Texas) has been roughly flat. Brent and West Texas prices used to move in lockstep, but they’ve diverged somewhat in the past few years. They cannot get too far apart, but they do show different paths recently.
Russia's War Against Ukraine
Forbes: Russia offers gas to China while European energy prices fall
Russian President Vladimir Putin offers gas deal in China on May 21.
