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Oil rose on Monday as the stand-off between Russia and the West over Ukraine added to supply concerns. Brent gained $2.74 to $96.28 and WTI rose to $93.86, with Russia reporting it had killed Ukrainian saboteurs.
Geopolitical tension in an already tight market keeps crude prices near $100, raising input and freight costs for feed makers.
reuters.comNoah BrowningFeb 21, 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.
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.
