# How Russia's invasion of Ukraine rocked commodity markets

> Commodity prices surged after Russia's invasion of Ukraine, with oil passing $100 a barrel, aluminum hitting a record and wheat reaching a nine-year high. A month into the conflict, inflation has risen, a wheat shortage is deepening food crises in countries such as Egypt, and growth forecasts are being cut. Glencore said global trade flows will need to adapt to lost Russian and Ukrainian supply.

- Date: 2022-03-23 · published 2022-03-23T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6242-how-russia-s-invasion-of-ukraine-rocked-commodity-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Sustained supply losses from Russia and Ukraine keep wheat and energy prices elevated, raising feed and input costs for buyers.

## Read by commodity

- BRENT: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2022-03-23 | 5 | +10.8% | 2.8 | Wheat hit a nine-year high with a deepening shortage and lost Russian and Ukrainian supply, giving the macro supply backdrop for the rally. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-24 | [AgriMarketing.com - Wheat Prices Soar Following Russia's Invasion Of Ukraine](https://feedsoft.ai/events/42753-agrimarketing-com-wheat-prices-soar-following-russia-s-invasion-of-ukraine.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-24 | [Ukraine Russia Invasion: Commodity Exports in Chaos as Rail and Ports Close - Bloomberg](https://feedsoft.ai/events/42714-ukraine-russia-invasion-commodity-exports-in-chaos-as-rail-and-ports-close.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-24 | [Commodity supplies at risk as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/14508-commodity-supplies-at-risk-as-russia-invades-ukraine-reuters.md) | +6.8% | +25.3% |
| WHEAT | 2022-01-21 | [How a Russian-Ukraine conflict might hit global markets](https://feedsoft.ai/events/14513-how-a-russian-ukraine-conflict-might-hit-global-markets.md) | +0.5% | -1.6% |
| WHEAT | 2022-06-16 | [Russia’s invasion of Ukraine puts additional strain on global food production chain](https://feedsoft.ai/events/40881-russia-s-invasion-of-ukraine-puts-additional-strain-on-global-food-production.md) | -2.3% | -13.8% |
| BRENT | 2022-02-26 | [Will diesel fuel prices go up with Russia's invasion of Ukraine? \| Commercial Carrier Journal](https://feedsoft.ai/events/42899-will-diesel-fuel-prices-go-up-with-russia-s-invasion-of-ukraine-commercial.md) | +23.1% | +23.8% |
| BRENT | 2022-03-01 | [Euro falls to lowest since June 2020 as Russia's invasion of Ukraine picks up](https://feedsoft.ai/events/8259-euro-falls-to-lowest-since-june-2020-as-russia-s-invasion-of-ukraine-picks-up.md) | +23.6% | +11.2% |
| BRENT | 2023-08-07 | [The Commodities Feed: Russia-Ukraine tensions add to oil supply risks \| articles \| ING THINK](https://feedsoft.ai/events/34496-the-commodities-feed-russia-ukraine-tensions-add-to-oil-supply-risks-articles.md) | +0.6% | +2.8% |

## Sources

- dw.com: https://www.dw.com/en/how-russias-invasion-of-ukraine-rocked-commodity-markets/a-61235041

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