# Dollar edges higher as surging energy prices prompt safe-haven flows | Financial Newsletter

> The U.S. dollar rose on March 7, 2022, supported by safe-haven flows as Brent crude traded above $122 after reaching $139.13, its highest since July 2008. Oil spiked as the U.S. and European allies considered banning Russian crude imports, while the euro fell below $1.09.

- Date: 2022-03-07 · published 2022-03-07T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/12080-dollar-edges-higher-as-surging-energy-prices-prompt-safe-haven-flows-financial
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Surging crude raises diesel, freight and fertilizer costs across the feed chain, supporting grain and oilseed prices through energy linkages. The stronger dollar and weaker euro offset some of that pressure for importers.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2022-03-07 | 5 | +1.8% | 3.1 | Dollar rose on March 7 on safe-haven flows as Brent spiked above $120, with the euro below $1.09, supporting the end-of-window move. |
| BRENT | 2022-03-07 | 5 | +23.6% | 5.8 | Brent hit $139.13 on March 7 as the US and allies weighed banning Russian crude, confirming the peak of the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-04 | [Dollar firms, euro stumbles as energy prices surge \| MarketScreener](https://feedsoft.ai/events/11005-dollar-firms-euro-stumbles-as-energy-prices-surge-marketscreener.md) | +7.9% | +48.7% |
| BRENT | 2026-03-02 | [Dollar (USD) Gains as Higher Oil Prices Damp Bets on Fed Rate Cuts - Bloomberg](https://feedsoft.ai/events/10711-dollar-usd-gains-as-higher-oil-prices-damp-bets-on-fed-rate-cuts-bloomberg.md) | +31.0% | +62.6% |
| BRENT | 2022-02-28 | [Sterling falls vs dollar, rises against euro after Western sanctions on Russia \| Financial Post](https://feedsoft.ai/events/42940-sterling-falls-vs-dollar-rises-against-euro-after-western-sanctions-on-russia.md) | +23.1% | +23.8% |
| BRENT | 2022-02-02 | [OPEC+ sticks to planned output hikes despite surging oil prices \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/42631-opec-sticks-to-planned-output-hikes-despite-surging-oil-prices-opec-news-al.md) | +4.1% | +20.3% |
| BRENT | 2024-03-18 | [Oil prices inch higher amid attacks on Russian energy facilities \| Reuters](https://feedsoft.ai/events/31372-oil-prices-inch-higher-amid-attacks-on-russian-energy-facilities-reuters.md) | -0.3% | +6.0% |
| WTI | 2026-03-02 | [Dollar (USD) Gains as Higher Oil Prices Damp Bets on Fed Rate Cuts - Bloomberg](https://feedsoft.ai/events/10711-dollar-usd-gains-as-higher-oil-prices-damp-bets-on-fed-rate-cuts-bloomberg.md) | +35.6% | +50.4% |
| WTI | 2026-03-07 | [US pump prices surge as Iran war upends global energy supply \| Reuters](https://feedsoft.ai/events/5531-us-pump-prices-surge-as-iran-war-upends-global-energy-supply-reuters.md) | +8.5% | +25.0% |
| WTI | 2022-02-02 | [OPEC+ sticks to planned output hikes despite surging oil prices \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/42631-opec-sticks-to-planned-output-hikes-despite-surging-oil-prices-opec-news-al.md) | +1.3% | +25.5% |

## Sources

- financialnewsletter.com: https://financialnewsletter.com/dollar-edges-higher-as-4/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.