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Oil, gas, wheat and aluminium jumped as Russia's sanctions bit and its invasion of Ukraine entered its second week. Brent futures hit $113.94 a barrel, the highest since June 2014, up more than 40% so far this year.
Sanctions disrupting Black Sea exports tighten wheat supply and raise grain prices for feed buyers. Crude and gas gains add to energy and fertilizer costs.
reuters.comPratima DesaiMar 2, 2022After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% 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.
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.
Brent hit $113.94 on March 2, the highest since 2014, as Russia sanctions drove a supply-risk rally, matching the move's date and size.
Brent reached $113.94, the highest since 2014, on March 2 as Russia sanctions bit, lifting energy prices.
Brent reached $113.94 on March 2 as sanctions bit, building the rally early in the window.
