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Oil rose above $110 a barrel as sanctions on Moscow and divestment from Russian oil left the market expecting months of short supply. Few alternatives were seen to replace Russian barrels.
Tight crude supply lifts diesel and energy costs across the feed supply chain. The price signal can also pull up vegetable oil and biofuel-linked feedstock values.
bloomberg.comSharon Cho, Alex LongleyMar 1, 2022
reuters.comDavid GaffenMar 2, 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.
Oil rose above $110 on expectations of months of short supply after sanctions and divestment from Russian oil.
Brent broke above $110 on March 2 as sanctions and divestment left the market expecting months of short Russian supply.
Oil broke above $110 as few alternatives were seen to replace Russian supply.
