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Factbox-Commodities hit multi-year highs on disrupted Russian exports -Breaking

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© Reuters. A group of combine harvests wheat near Suvorovskaya, Stavropol Region Russia. July 17, 2021. Photo taken July 17, 2021. REUTERS/Eduard Korniyenko

LONDON, (Reuters) – Prices for raw materials like oil, wheat and aluminium have risen to new multi-year highs following Russia’s invasion of Ukraine on February 24, and Western sanctions that prevented air and sea shipments from Russia of commodity produced or exported by Russia.

Check out the Factbox for information on Russia’s production and exports key raw materials.

Below are the details on price increases since Feb. 23, 2003.

ENERGY

Monday’s barrel price was $139.13, an increase of over 40% from Feb. 23, and the best since July 2008.

West Texas Intermediate rose by more than 40 percent to $130.50 per barrel Monday. This is the most since July 2008, when it was at its highest level.

Dutch gas prices reached a new record of 335 euros per tonne, an increase from the 84.25 Euros per ton at close on February 23, and British gas hit an all-time high on Friday, rising from 200 pence per therm.

Newcastle coal rose to an all-time high of $440 per tonne Wednesday. This is an increase of 85% from the close on Feb. 23.

GRAINS

The 14-year record wheat prices hit $12.78-1/4/a bushel at Tuesday’s close. That is nearly 45% more than Feb. 23, and $7.82-3/4/a bushel was reached Friday. That is the highest level since September 2012, with a 15% increase from Feb. 23.

METAL

Aluminum prices reached a new record of $4,073.50 per tonne Monday. This is a 24% increase since February 23.

Nickel rose to $101,365 per tonne, an all-time high. This is more than 300% higher since February 23, when the rally prompted the London Metal Exchange (LME) to stop trading.

The price reached $10,845 per tonne, which is just below the record of $10,747.50 in May 2021.

On Monday, Palladium reached a new record of $3.440.76 an Ounce. That’s a 40% rise from Tuesday’s close.

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