Because of the suppression by the United States! Petroleum is a political economy! Not determined by the market!

What is determined by supply and demand is all nonsense! For which commodity is price determined by supply and demand? All I can say is that I have read too many books....

Because Russia has stretched its hand too wide when it comes to crude oil! Because Russia occupies Crimea! Ukraine has been seeking to join the EU and join NATO. The Crimea region is extremely important geographically. Once Ukraine falls to NATO, Russia’s economic development and military will be controlled in all aspects. Russia’s In one fell swoop, we solved the life-and-death position restricted by Europe and the United States! The United States will not start a war with Russia. Russia is not Iraq, and it cannot be done in a few months or one or two trillion dollars. Russia's GDP is entirely based on oil and other energy output, so the United States does not need to lose troops or spend huge sums of money. It only needs to suppress oil prices, and the Russian economy will inevitably be hit hard! The people are in dire straits! Forcing Russia to be unable to intervene in the Middle East, unable to cause trouble in Ukraine, consolidate its US dollar status, control the global economy and create more wealth for the United States!

Remember, whoever controls oil controls the world! Crude oil and commodity transactions around the world are priced and settled in U.S. dollars, and the U.S. dollar has the pricing power for these commodities. The simplest way to put it is that if the United States wants to sell a product at a certain price, it will be at that price! In this way, the United States will become stronger and stronger, and the people will become richer and richer!

This is why the United States has been causing trouble in the Middle East and why it has tried its best to block China and Russia. When Russia is rich, it will disrupt its oil situation. When China is rich, it will rob it of its US dollar status and US dollars. Pricing power. This is the fundamental reason why the RMB needs to be internationalized and why China has established so many commodity futures trading markets settled in RMB!

Everything is competing for the international status of currency and pricing power! I wish China can go a long way in the internationalization of its RMB.

Man-made money dies and birds die for food. It applies to China, it applies even more to the United States, and it applies to the whole world.