# Oil surges 8% amid warnings of Russian supply shortages | Reuters

> Oil prices rose 8% on Thursday, March 17, 2022, recovering from several days of losses. The rebound reflected renewed concern about supply shortages in the coming weeks because of sanctions on Russia, the world's second-largest crude exporter.

- Date: 2022-03-17 · published 2022-03-17T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8482-oil-surges-8-amid-warnings-of-russian-supply-shortages-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Sanctions-driven supply fears lift crude prices, which raise diesel, freight and fertilizer costs for feed producers and support biofuel-linked feedstocks such as soybean oil and corn.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2022-03-21 | 5 | +26.2% | 4.7 | Oil rose 8% on March 17 on renewed fears of Russian supply shortages from sanctions, driving the rebound in ULSD during the window. |
| BRENT | 2022-03-22 | 5 | +15.1% | 3.3 | The 8% rebound on March 17 on renewed Russian supply-shortage fears began the recovery from the March 15-16 low, lifting the 5-day change. |
| BRENT | 2022-03-23 | 5 | +21.9% | 3.8 | The 8% rebound on March 17 on Russian supply shortage concerns raised the base from which the later gains were measured and signalled the upward momentum. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-02-13 | [Oil edges higher as market weighs Russian supply cuts amid demand fears \| Reuters](https://feedsoft.ai/events/37491-oil-edges-higher-as-market-weighs-russian-supply-cuts-amid-demand-fears-reuters.md) | -4.3% | -6.3% |
| WTI | 2026-03-09 | [Instant View: Oil surges 20% as Iran war fuels supply fears \| Reuters](https://feedsoft.ai/events/5573-instant-view-oil-surges-20-as-iran-war-fuels-supply-fears-reuters.md) | +8.5% | +25.0% |
| WTI | 2022-03-04 | [Oil surges to multi-year highs as Russian supply shortfall looms](https://feedsoft.ai/events/6279-oil-surges-to-multi-year-highs-as-russian-supply-shortfall-looms.md) | -1.6% | -6.7% |
| WTI | 2022-03-20 | [Oil Surges On Growing Supply Fears as EU Considers Russian Ban - Bloomberg](https://feedsoft.ai/events/8485-oil-surges-on-growing-supply-fears-as-eu-considers-russian-ban-bloomberg.md) | +10.3% | +3.4% |
| WTI | 2025-10-22 | [Oil surges 5% after US sanctions Russian firms Rosneft, Lukoil \| Reuters](https://feedsoft.ai/events/8126-oil-surges-5-after-us-sanctions-russian-firms-rosneft-lukoil-reuters.md) | +4.0% | +4.9% |
| BRENT | 2023-02-13 | [Oil edges higher as market weighs Russian supply cuts amid demand fears \| Reuters](https://feedsoft.ai/events/37491-oil-edges-higher-as-market-weighs-russian-supply-cuts-amid-demand-fears-reuters.md) | -4.0% | -3.9% |
| BRENT | 2026-03-09 | [Instant View: Oil surges 20% as Iran war fuels supply fears \| Reuters](https://feedsoft.ai/events/5573-instant-view-oil-surges-20-as-iran-war-fuels-supply-fears-reuters.md) | +9.5% | +25.6% |
| BRENT | 2022-03-04 | [Oil surges to multi-year highs as Russian supply shortfall looms](https://feedsoft.ai/events/6279-oil-surges-to-multi-year-highs-as-russian-supply-shortfall-looms.md) | -0.9% | -4.7% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/03/17/oil-markets-iea-russia.html
- reuters.com: https://www.reuters.com/business/energy/oil-futures-open-higher-iea-supply-warning-2022-03-17/

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