Russia-Ukraine war as traders expect significant supply shortages due to sanctions placed on Russia.
Brent crude oil is projected to have an average annual price of 105.22 U.S. dollars per barrel in 2022, according to a forecast from March 2022. Crude oil prices have been rising dramatically following the Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel)
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Topics

EIA. (March 8, 2022). Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel) [Graph]. In Statista. Retrieved May 28, 2022, from https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/
EIA. "Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel)." Chart. March 8, 2022. Statista. Accessed May 28, 2022. https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/
EIA. (2022). Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel). Statista. Statista Inc.. Accessed: May 28, 2022. https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/
EIA. "Brent Crude Oil Prices in 2020 and 2021, with a Forecast until 2023 (in U.S. Dollars per Barrel)." Statista, Statista Inc., 8 Mar 2022, https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/
EIA, Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel) Statista, https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/ (last visited May 28, 2022)