Mid-Week Review – March 9, 2022

By Published On: March 9, 2022Categories: Daily Market News & Insights

5 facts about the logistics of war

Russia’s reported inability to refuel its vehicles while attempting to take over key Ukrainian cities highlights the crucial role that logistics plays in wartime. In fact, logistics often determines the course of a war, experts say. Fuel, ammunition, food and water, and medical supplies are all critical needs on the front lines. The U.S. military has seven geographic combatant commands set up around the world — Europe, Africa, the Pacific Rim, the Middle East, South America, North America and even outer space — to kick off logistical operations if a conflict arises. “For the U.S. military ideally, setting the theater has already taken place before combat operations begin,” Patrick H. Mackin, a spokesman for the Defense Logistics Agency (DLA), told FreightWaves.

Saudi Arabia Reaffirms Commitment To Russia Despite War In Ukraine

Saudi Arabia’s Crown Prince Mohammed bin Salman (MbS) reiterated last week his country’s “commitment to the ‘OPEC+’ agreement” – working alongside the agreement’s other key partner, Russia – despite the ongoing Russian invasion of Ukraine. MbS sought to couch this extraordinary re-assertion of his country’s alliance with Russia in terms of the “the kingdom’s keenness on the stability and balance of oil markets”. However, this idea was quickly undermined by the announcement of that the ongoing modest rise of 400,000 barrels per day (bpd) in collective output seen over the past few months will continue, despite the economic damage being done to many developed economies by current high oil and gas prices.

Ban on Russian Oil Could Hit the U.S. Economy as Gas Prices Rise

The ban on Russian oil imports announced by President Biden on Tuesday could have meaningful consequences for the U.S. economy, pushing prices at the gas pump higher when inflation is already rapid, although how long-lasting that impact might be remains uncertain. “We’re banning all imports of Russian oil and gas and energy,” Mr. Biden said, speaking at a White House briefing. He said the plan would target the “main artery” of the Russian economy. While he acknowledged that the move would likely push gas prices up, he blamed Russian aggression for that reality.

Why US gas prices are at a record and why they’ll stay high for a long time

Russia’s invasion of Ukraine is a major reason that US drivers are paying record prices for gasoline. But it’s not the only reason. Numerous factors are combining to push gas prices up to a record. Gas hit $4.25 for a gallon of regular gas, according to AAA’s survey Wednesday. Gas prices were already expected to breach the $4 a gallon mark for the first time since 2008, with or without shots fired or economic sanctions imposed in Eastern Europe.

This article is part of Daily Market News & Insights


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