Western nations probably won’t impose energy export-related sanctions on Russia amid escalating tensions in Ukraine as Europe has little alternative to Russian gas, according to Goldman Sachs Group Inc. and Citigroup Inc.
Palladium advanced to the highest in more than two years as the U.S. threatened more sanctions against Russia, the world’s largest supplier of the metal used in pollution-control devices for cars. Gold fell.
Hamburger Hafen & Logistik AG, the handler of about three in four containers at Hamburg’s port, dropped the most in five years after it warned that sanctions against Russia as a result of the Ukraine crisis may cause earnings to fall this year.
Unprecedented natural gas reserves in Europe, record global grain output and the threat of mutual economic calamity from oil sanctions are cushioning commodity prices even as the Ukraine-Russia conflict spurs a gold rally.