# Factbox: Russian escalation in Ukraine yet to faze commodity markets | S&P Global

> Tensions are rising between Russia and Ukraine over a possible new military escalation, which could disrupt commodity and energy flows. S&P Global notes that Western sanctions on Russia's energy sector could tighten if fighting escalates in eastern Ukraine. So far the escalation has not moved commodity markets.

- Date: 2021-04-13 · published 2021-04-13T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude low
- Page: https://feedsoft.ai/events/47477-factbox-russian-escalation-in-ukraine-yet-to-faze-commodity-markets-s-and-p
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Ukraine transits Russian gas and crude to Europe, so a sanctions or disruption scenario could tighten European energy supply and lift gas and oil prices. Grain buyers should watch for spillover into Black Sea shipping and wheat and corn risk premiums.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-02-25 | [Farming News - The Ukraine/Russia situation sends global fertiliser markets sharply higher](https://feedsoft.ai/events/43022-farming-news-the-ukraine-russia-situation-sends-global-fertiliser-markets.md) | +0.1% | +13.3% |
| NATGAS | 2022-05-25 | [LNG prices to stay elevated as Russia-Ukraine war bites: Woodside CEO \| S&P Global](https://feedsoft.ai/events/41575-lng-prices-to-stay-elevated-as-russia-ukraine-war-bites-woodside-ceo-s-and-p.md) | -2.8% | -27.7% |
| NATGAS | 2021-06-30 | [FEATURE: All eyes on Europe's tight gas market going into Q3 \| S&P Global](https://feedsoft.ai/events/46766-feature-all-eyes-on-europe-s-tight-gas-market-going-into-q3-s-and-p-global.md) | -1.7% | +10.4% |
| NATGAS | 2022-01-31 | [Grain exports likely disrupted in a Russian, Ukraine conflict, analyst says](https://feedsoft.ai/events/14517-grain-exports-likely-disrupted-in-a-russian-ukraine-conflict-analyst-says.md) | -3.8% | -13.8% |
| NATGAS | 2024-11-06 | [Geopolitics creates volatility in global fertiliser markets - Farmers Weekly](https://feedsoft.ai/events/27323-geopolitics-creates-volatility-in-global-fertiliser-markets-farmers-weekly.md) | +13.6% | +39.1% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/041321-factbox-russian-escalation-in-ukraine-yet-to-faze-commodity-markets

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