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Jefferies reports spot LNG prices rose 6% week-on-week to about USD 32 per mmBtu, with EU gas storage at 75% versus 83% a year earlier. Middle East crude exports have recovered to over 90% of pre-war levels, but freight costs and tanker attacks keep shipping expensive.
High natural gas prices raise nitrogen fertilizer and energy costs for feed producers, while elevated freight and crude costs add to input inflation across the feed chain.
pgurus.comOct 30, 2026After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% 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.
Not enough comparable past events yet for a historical read.
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.
