Ukraine crisis: commodities prices surge as stock markets slump

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.

• Apr 2, 2026Oil price jumps and markets slide after Trump warning to Iran | Oil | The Guardian-2.8%
• Jun 17, 2025Diesel Prices Surge as Israel-Iran War Pressures Market - TT-1.7%
• Mar 23, 2022How Russia's invasion of Ukraine rocked commodity markets-5.9%
• Jul 22, 2026Oil price rises above $95 mark as Middle East conflict escalates | Oil | The Guardian-8.2%
• Oct 2, 2026Markets Ablaze: Gas & LNG Prices Surge as Middle East Conflict Escalates+7.5%

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.

• Apr 2, 2026Oil price jumps and markets slide after Trump warning to Iran | Oil | The Guardian-2.2%
• Mar 17, 2022The Invasion of Ukraine is Accelerating the Supercycle in Commodities | Goldman Sachs+21.1%
• Feb 22, 2022Canadian dollar firms as oil surges on rising Russia-Ukraine tensions - The Globe and Mail+5.3%
• Mar 5, 2026Commodities market update: impact on Middle East crisis • De Molenaar+16.5%
• Aug 7, 2023The Commodities Feed: Russia-Ukraine tensions add to oil supply risks | articles | ING THINK+0.5%

After 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.

• Jul 20, 2023Grain prices rise after Russian pullout of Black Sea deal sparks food crisis fears | Commodities | The Guardian-0.7%
• Feb 27, 2022‘Through the roof’: Wheat prices could surge 50 per cent due to Ukraine crisis+12.1%
• Apr 8, 2022Food commodity prices hit unprecedented highs as Ukraine crisis festers-2.0%
• Nov 22, 2023Wheat prices jump as Russia targets Ukrainian grain supplies-0.4%
• Jul 20, 2023Wheat prices soar as Russia-Ukraine tensions stoke food crisis fears-0.7%