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Oil prices surged to multi-year highs as markets priced in a looming shortfall of Russian supply. Governments were reported to be resisting measures that would push up energy bills.
A expected loss of Russian barrels raises crude and energy costs, which feeds into fuel, fertilizer and freight costs for feed makers. Higher energy prices also tend to support grain and oilseed values through biofuel demand.
reuters.comScott DisavinoMar 4, 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 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.
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.
Same-day report of oil hitting multi-year highs as markets priced in a looming Russian supply shortfall and governments resisted measures that raise energy costs.
Oil hit multi-year highs on March 4 as markets priced in a looming Russian supply shortfall.
Oil hit multi-year highs as markets priced in a looming Russian supply shortfall.
