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Commodity prices ease as supplies improve, boost to economy
BUSINESS ECONOMICS
|February 01 - 28, 2026
When the Russia-Ukraine conflict broke out in 2022, the world was still recovering from post-pandemic supply chain disruptions.
The war sent international prices of food and other commodities soaring.
The benchmark FAO Food Price Index touched an all-time high of 160.2 in March that year, while Brent crude futures crossed $139 per barrel on March 7.
By contrast, recent geopolitical tensions - whether in Venezuela, Iran or Greenland, not to mention US President Donald Trump's tariffs have had minimal impact on global commodity markets. Prices remain well below their 2022 peaks.
The global food price index averaged 124.3 points in December, while Brent crude is trading at around $65 per barrel.
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