Putin said he’s recognizing two self-proclaimed separatist republics in eastern Ukraine and plans to send “peacekeeping forces” 🇷🇺
📈 Brent oil hit $97/bbl (7-year high) #OOTT
📈 Conflict or retaliatory Western sanctions could upend flows of commodities
bloomberg.com/news/articles/…
📈 WTI crude oil futures climbed more than 3% from Friday, after not closing Monday due to the US holiday, to $94 a barrel
📈 Gold touched an eight-month high
📈 Silver, platinum and palladium all gained
bloomberg.com/news/articles/…
Russia is a major supplier of raw materials, so a potential conflict/sanctions could impact everything from oil and gas to aluminum and nickel 🇷🇺👇
This “could spawn a butterfly effect, sending commodity prices spiraling higher as supply woes multiply”
bloomberg.com/news/articles/…
📈 Brent oil soars to $97.66 a barrel in early Asian trading on Tuesday. That's the highest since September 2014
$100 oil is just a hair away at this point
bloomberg.com/news/articles/…
Metals prices also rising as a conflict in Ukraine or retaliatory sanctions would potentially upend flows from Russia
📈 Aluminum surges to highest level in about 13 years
📈 Nickel jumps to highest since 2011
European natural gas surged (about a third of Europe's gas comes from Russia)
📈 Dutch gas futures, a European benchmark, jumped as much as 13% to 82 euros a megawatt-hour
bloomberg.com/news/articles/…
📈 Brent crude oil futures hit $99.3 a barrel, the highest level since 2014
📈 $100 oil is a smidge away
Meanwhile, surging commodity prices threaten to drive up inflation and upend the global economic recovery ⚠️
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