Producers of metals and other raw materials fell, but not by as much as the broad market, as the price of most commodities surged in the wake of Russia's shelling of the Zaporizhzhia nuclear plant.
Wheat futures rose about 40% for the week, as risks of a radioactive accident in the war between two of the world's largest producers of the commodity grew.
Among other commodities where Russia is a major source, the price of nickel continued a march higher, while palladium futures neared record highs, trading around $2,700 an ounce. Coal prices have been on the rise as the threat to European natural gas supplies have revived demand for a fuel that was being abandoned.
Gold futures, which are used as a hedge in times of geopolitical uncertainty, rose by more than 4% for the week to $1965 an ounce, the highest close since September 2020.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-04-22 1649ET
