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European natural gas prices surged by almost 70% intraday and Brent crude briefly topped $105 a barrel after Russia invaded Ukraine. Analysts warned prices could rise substantially higher if the conflict disrupts energy supplies, although Brent later gave back much of its gain.
Higher crude and gas costs raise energy and transport expenses for feed production and push demand toward alternative fuels, while the geopolitical risk adds volatility to energy-linked commodities.
ft.comNeil Hume, Emiko Terazono, Tom Wilson in LondonFeb 24, 2022After 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 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.
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.
