Dmitriev called the rise in oil prices an acceleration of the energy tsunami

The rise in Brent oil prices to $100 per barrel, which occurred for the first time in two months, resembles an energy tsunami. This was announced on July 23 by Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF).

"The price of oil has exceeded the $100 mark for the first time in two months as the energy tsunami accelerates," he wrote on the social network X (ex. Twitter).

Dmitriev estimates that the cost of fuel is already moving towards a mark above $ 150 per barrel.

Black in gold: Brent crude oil price is forecast at $100-120 per barrel

Under what conditions is this possible and what benefits does it promise to the Russian budget?

According to trading data from the ICE exchange on July 23, the price of Brent crude oil exceeded $100 per barrel for the first time since May 22. As of 16:00 GMT, Brent crude futures were trading at $99,840 per barrel. The increase in quotations since the beginning of trading amounted to 6.134%, the trading volume reached 221,495 contracts.

On July 23, Reuters pointed to an increase in oil prices due to the escalation in the Middle East. It is noted that this trend is associated with a new escalation of the conflict between the United States and Iran, which threatens energy supplies through the Strait of Hormuz.