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Freightos reports that the war in Ukraine is raising oil prices, which is expected to lift freight rates across ocean and air modes. Airspace bans cut Asia-Europe air capacity, and China-Europe air rates jumped more than 80% to $11.36/kg, while Asia-US container rates rose further.
Higher bunker and jet fuel costs and reduced capacity raise transport costs for trade flows, adding to feed ingredient landed costs and reinforcing energy-linked freight pressure.
ajot.comAJOTMar 3, 2022Not enough comparable past events yet for a historical read.
After 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 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.
