The Effect of Geopolitical Events on Commodities

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July 18 (Bloomberg) –- Bloomberg’s Isaac Arnsdorf discusses the effect of events in Ukraine and Russia on commodity prices with Alix Steel on “Street Smart.” (Source: Bloomberg)

Up about the fifth largest producer of wheat in the world.

I don't think people actually know that.

Explain what happened today and yesterday.

We saw a big reaction because of the conflict in ukraine am a concerned that supplies would not reach the market.

There is a little bit of panic setting in today.

You are seeing a retreat from that.

There are reports of a u.s. production.

You have a pretty big decline today.

There was a no doubt today that says the market is assuming supplies will come online and we will see in the next couple of weeks -- is there anything to doubt that?

No one really sees any reason to close the vault.

I think the market would be surprised to see any sort of disruption.

Other commodities include natural gas.

Europe gets about one third of its supply from russia.

U.k. natural gas -- a rally yesterday.

Yesterday was a big impact.

Just kind of taking a step back and taking a breather from that.

Certainly u.s. natural gas is are off a little bit today.

That has to do with the milder weather so the demand isn't as high as people might have been anticipating.

I was covering my market when this all happened.

It is not very exposed.

Russia export 6 million barrels a day.

What does that mean for u.s. companies that operate their?

That is why you saw some energy stocks going down, even when oil was going up.

That is maybe a little bit up in the air because of sanctions.

I heard they thought that things were going to move forward.

There is definitely a lot of uncertainty with oil.

It is important to remember between ukraine and israel and gaza the focus has come off of her rocker little bit but there is that whole conflict that was driving up oil prices a few weeks ago.

It really is about gold.

Today we got some questions about when interest rates are going to rise.

Ubs points out it has been the theme to gold and the safe haven.

This text has been automatically generated. It may not be 100% accurate.


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