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Help me put a response to this (Fuel oil is also one good that saw its price increase in 2021 and continued into 2022. When
Help me put a response to this (Fuel oil is also one good that saw its price increase in 2021 and continued into 2022. When crude oil prices spiked in the year's first half, its refined byproducts also increased. Russia's full-scale invasion of Ukraine started on Feb. 24. By March 8, a barrel of crude oil had hit its highest inflation-adjusted price since 2014, according to the U.S. Energy Information Administration, amid concerns about the war's impact on supply. On the final trading day of 2022, the spot price of Brent crude oil, a global benchmark in Northwest Europe, closed at $85 per barrel (b), $7 higher than the price on January 3, 2022 ($78/b). The Brent price rose significantly in the first half of 2022 but generally declined in the year's second half. The spot price for West Texas Intermediate (WTI), a benchmark price for U.S. crude oil, followed a similar pattern, finishing the 2022 trading year $4/b higher than on January 3. The Brent crude oil spot price averaged $100/b in 2022, and the WTI spot price averaged $95/b. Crude oil supply also increased in the second half of the year from U.S. and international Strategic Petroleum Reserve
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