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NYMEX WTI settled at $103.41 a barrel on March 1, 2022, after reaching $106.78 intraday, its highest since July 2014. ICE Brent settled at $104.97, and ULSD rose to $3.1511 per gallon as Russian gasoil supplies tightened.
The IEA announced a 60 million barrel coordinated stock release, which pared some of the gains.
Russian crude is increasingly avoided, widening differentials and lifting diesel costs for feed transport and processing. Elevated crude prices raise input costs throughout the feed supply chain and support prices of energy-linked commodities.
spglobal.comMar 1, 2022After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
