# The Commodities Feed: Russia-Ukraine tensions add to oil supply risks | articles | ING THINK

> Ukrainian drone attacks on Russian oil tankers in the Black Sea raised supply risk for crude. Ukraine declared Russian Black Sea ports war-risk areas, and ICE Brent settled above $86 a barrel. The article also reports wheat gains on escalating Ukraine-Russia tensions.

- Date: 2023-08-07 · published 2023-08-07T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/34496-the-commodities-feed-russia-ukraine-tensions-add-to-oil-supply-risks-articles
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Black Sea shipping risk, which carries a large share of Russian crude and grain exports, lifts crude prices and wheat values, raising input and freight costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-10-16 | [The Commodities Feed: Oil market remains nervous \| articles \| ING THINK](https://feedsoft.ai/events/33615-the-commodities-feed-oil-market-remains-nervous-articles-ing-think.md) | +0.4% | -10.9% |
| BRENT | 2025-02-20 | [The Commodities Feed: EU agrees on another Russian sanctions package \| articles \| ING THINK](https://feedsoft.ai/events/26238-the-commodities-feed-eu-agrees-on-another-russian-sanctions-package-articles.md) | -4.2% | -6.3% |
| BRENT | 2020-02-07 | [The Commodities Feed: More OPEC+ cuts coming \| snaps \| ING THINK](https://feedsoft.ai/events/54748-the-commodities-feed-more-opec-cuts-coming-snaps-ing-think.md) | +2.3% | -8.0% |
| BRENT | 2024-11-21 | [Oil rises 2% on supply worries as Russia-Ukraine war escalates](https://feedsoft.ai/events/27585-oil-rises-2-on-supply-worries-as-russia-ukraine-war-escalates.md) | -0.3% | +0.6% |
| BRENT | 2022-04-18 | [Oil rises over 1% as Libya outages add to Russia supply fears](https://feedsoft.ai/events/42013-oil-rises-over-1-as-libya-outages-add-to-russia-supply-fears.md) | -4.8% | +0.5% |
| WTI | 2023-10-16 | [The Commodities Feed: Oil market remains nervous \| articles \| ING THINK](https://feedsoft.ai/events/33615-the-commodities-feed-oil-market-remains-nervous-articles-ing-think.md) | +1.5% | -12.6% |
| WTI | 2025-02-20 | [The Commodities Feed: EU agrees on another Russian sanctions package \| articles \| ING THINK](https://feedsoft.ai/events/26238-the-commodities-feed-eu-agrees-on-another-russian-sanctions-package-articles.md) | -5.1% | -7.1% |
| WTI | 2022-02-22 | [Canadian dollar firms as oil surges on rising Russia-Ukraine tensions - The Globe and Mail](https://feedsoft.ai/events/42919-canadian-dollar-firms-as-oil-surges-on-rising-russia-ukraine-tensions-the-globe.md) | +5.3% | +23.0% |

## Sources

- think.ing.com: https://think.ing.com/articles/the-commodities-feed-russia-ukraine-tensions-add-to-oil-supply-risks/

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