🚨 Oil prices experienced a sharp decline today, with Brent crude reaching $61.41 per barrel. The main reason is cautious optimism regarding peace talks between Russia and Ukraine, which opens the door for a significant portion of Russian supply to return to the global market. This expectation exacerbates existing surplus concerns.

The "Oxford Economics" report complicates matters further, predicting that the enormous surplus (over two million barrels per day) will continue and push oil prices down towards $55 by 2027. It seems that oil has entered a phase of global repricing focused on abundance rather than risks.