After the speech by Russian President Vladimir Putin, the price for gas, oil and wheat has skyrocketed. Traders fear an escalation of the war and a long conflict.
This could further reduce the supply of Russian gas, in particular via the pipeline through Ukraine. On the leading Dutch futures market, natural gas became more than five percent more expensive, the price is now more than 203 euros per megawatt hour.
Oil and wheat also became more expensive because exports could be jeopardized. In the first case, it is an increase of 2 percent. A barrel of American oil now costs more than $85, a barrel of Brent – decisive with us at the pump – more than $92.
On Thursday, the maximum price for a liter of diesel (B7) in Belgium will rise by 2.3 cents to 1.9460 euros per liter. That reports The last news based on information from the Federal Public Service Economy. Today we also added 3.5 cents. The reason for the price increase is that oil products or biocomponents are becoming more expensive on the international markets.
Ukrainian grain today finds its way to the world market via a humanitarian corridor through the Black Sea. This is possible through an agreement between Russia, Ukraine, Turkey and the United Nations. Putin’s words did not miss their effect, however.
Wheat rose on the Chicago futures market to $ 9.08 per bushel, or the highest level since July. Wheat had also become significantly more expensive in recent days.
The dollar, on the other hand, reached its highest level since 2002. The American currency is regarded as a safe haven for investment in times of crisis.
In a pre-recorded speech, the Russian president announced a partial military mobilization. This means that only those who are currently reservists will be conscripted, concretely this concerns 300,000 people. The presidential decision therefore does not apply to students and conscripts, a sensitive point in Russia.
Putin also said he would use “all available means” to answer the “nuclear blackmail of the West”. “I’m not bluffing,” it sounded.
Watch the key passages from Putin’s speech here:
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