# Oil, gas, wheat and aluminium jump as Russia sanctions bite

> 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.

- Date: 2022-03-02 · published 2022-03-02T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/6281-oil-gas-wheat-and-aluminium-jump-as-russia-sanctions-bite
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

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.

## Read by commodity

- BRENT: bullish ▲
- WHEAT: bullish ▲
- NATGAS: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-02 | 1 | +7.4% | 3.6 | 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 | 2022-03-04 | 5 | +25.7% | 5.2 | Brent reached $113.94, the highest since 2014, on March 2 as Russia sanctions bit, lifting energy prices. |
| BRENT | 2022-03-07 | 5 | +23.6% | 5.8 | Brent reached $113.94 on March 2 as sanctions bit, building the rally early in the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-11-22 | [Wheat prices jump as Russia targets Ukrainian grain supplies](https://feedsoft.ai/events/12252-wheat-prices-jump-as-russia-targets-ukrainian-grain-supplies.md) | -0.4% | -1.2% |
| WHEAT | 2026-07-16 | [Russia and Ukraine strike vessels in Black Sea, wheat prices jump](https://feedsoft.ai/events/7279-russia-and-ukraine-strike-vessels-in-black-sea-wheat-prices-jump.md) | +3.9% | +0.1% |
| WHEAT | 2022-03-09 | [Markets stagger as Russia sanctions intensify](https://feedsoft.ai/events/9526-markets-stagger-as-russia-sanctions-intensify.md) | -3.1% | +3.6% |
| WHEAT | 2022-10-31 | [Wheat futures jump as Russia pulls out of Black Sea agreement \| CBC News](https://feedsoft.ai/events/39158-wheat-futures-jump-as-russia-pulls-out-of-black-sea-agreement-cbc-news.md) | -5.6% | +2.4% |
| WHEAT | 2023-02-10 | [U.S. Wheat Futures Jump on Ukraine, Russia Shipment Concerns](https://feedsoft.ai/events/37376-u-s-wheat-futures-jump-on-ukraine-russia-shipment-concerns.md) | -2.5% | -9.0% |
| BRENT | 2025-01-10 | [Oil prices rally 3% as US hits Russian oil with tougher sanctions](https://feedsoft.ai/events/10352-oil-prices-rally-3-as-us-hits-russian-oil-with-tougher-sanctions.md) | +5.4% | -4.2% |
| BRENT | 2025-10-23 | [Oil price jumps and FTSE 100 hits new high after Trump puts sanctions on Russian firms \| Oil \| The Guardian](https://feedsoft.ai/events/8132-oil-price-jumps-and-ftse-100-hits-new-high-after-trump-puts-sanctions-on.md) | +4.1% | +1.9% |
| BRENT | 2026-03-08 | [Oil jumps to 2022 high on Iran war, falls after close as Russia sanctions in doubt \| Reuters](https://feedsoft.ai/events/5227-oil-jumps-to-2022-high-on-iran-war-falls-after-close-as-russia-sanctions-in.md) | +9.5% | +25.6% |

## Sources

- reuters.com: https://www.reuters.com/article/ukraine-crisis-commodities/oil-gas-wheat-and-aluminium-jump-as-russia-sanctions-bite-idUSKBN2KZ29C/

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