Oil prices tumbled at the start of this week as fears of a major supply crunch were alleviated somewhat. Upward pressure remains, however, with geopolitical risks mounting and a nuclear deal with Iran now looking uncertain. Oilprice Alert. To read what Oilprice.com’s geopolitical and trading experts have to say about Russia’s invasion of Ukraine, make sure you sign up for Global Energy Alert and read this week’s communique in the Members Section. Friday, March 4th, 2022 Oil prices are heading towards their biggest weekly decline since November 2021 as supply concerns have been somewhat alleviated recently. To begin with, the reaching out of US officials to Venezuela added some downward pressure to prices by signaling the Biden administration’s intent to secure more oil and opening the potential for Venezuelan heavy barrels to come to the U.S. in the future. In the meantime, the United States’ SPR release is set […]