Oil and natural gas prices climbed Monday, while wheat prices briefly spiked higher, as investors reacted to the weekend’s brief and chaotic insurrection in Russia.
Markets were largely focused on whether the turmoil in Moscow could disrupt global commodity supplies. Russia is the world’s second biggest exporter of oil, and the world’s biggest exporter of wheat.
US crude oil futures briefly climbed 1.3%, before trading up 0.8% by 12.15 p.m. ET. Brent crude, the international benchmark, gained 0.7%. Both contracts lost nearly 4% last week.
Diversified Energy Company plc (LON:DEC), formerly Diversified Gas & Oil plc, is a gas and oil production company operating in the Appalachian Basin in the United States.