The price of Brent oil was trading for less than a hundred dollars, or rather at $98 per barrel (dpb) as early as mid-afternoon on Monday.

The Brent oil index has not dropped below $100 since March 16, after two strong peaks since the beginning of Russia's invasion of Ukraine. Considering the closing values of each daily session, it traded at 127.98 dpb at the beginning of March and 121.6 dpb already in the last week of the same month.

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In almost seven weeks of war, oil has topped 140 dpb in the middle of a trading day, but since March 23 it has been on a downward trend, mainly due to expectations of negotiations between Ukraine and Russia, announced sanctions, and diversification of supply sources.

Although volatility is very high, with many ups and downs, the cost of a barrel this Monday was only about 3% more expensive than on February 23, the day before the invasion, when it was quoted at 94.95 dpb.

However, the prices of petroleum products, even vehicular and cooking gas, have been very high in recent weeks.

Considering this trend, fuel prices are expected to return to pre-war prices in Eastern Europe.

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Late last week, the European Union decided to stop buying coal from Russia. This week, the discussion moves on to ways to reduce dependence on Russian oil and natural gas in order to mitigate or eliminate its dependence on the country headed by Vladimir Putin.