Oil prices spiked when Russia invaded Ukraine in 2022

Oil prices have been volatile for decades

This explainer shows oil’s rollercoaster: OPEC-led embargoes in the 1970s, shale surges in the 2000s, and the US flip to becoming a net oil exporter in 2020.

Breaking down Europe's reliance on Russian energy (preinvasion)

One side effect of the Russian-Ukraine conflict is how it underscored European dependence on Russian natural gas and oil. This article, published days before the Russian attacks, outlines and illustrated how much gas and oil flows from Russia to Europe and the potential for either side to use sanctions to get what they want.

Lessons from the 1973 energy crisis still echo in today’s geopolitical battles over oil

The video from the Economist highlights how energy supply disruptions can be weaponized—just as in 1973, today’s gas cutoffs (Russia throttling supplies to Europe after their invasion of Ukraine) reveal the ongoing importance of strategic energy resilience.

Russia's full-scale invasion of Ukraine began on Feb. 24, 2022

Russia launched a massive multifront assault from Belarus, Russia, and Crimea, aiming to seize Kyiv within days. Instead, Ukrainian forces repelled the advance, halting Moscow's plans for a rapid takeover.

The Russia-Ukraine war greatly affected the global food supply

Russia's invasion devastated Ukraine's agricultural sector, destroying farms, ports, and grain infrastructure and causing over $40B in losses. Disrupted exports fueled global food insecurity, while Moscow leveraged its grain exports to expand influence across the Global South.

Explore a timeline of US dependence on crude oil from 1850 to 2023

Oil dependence began with the rise of oil as a commodity, followed by an era of geopolitical competition for the resource after World War II. The domestic fracking boom, which started around 2006, was driven by a desire to reduce the nation's dependence on international adversaries for energy.

Russia's invasion of Ukraine has destabilized safety and oversight at Chernobyl

Russian forces cut power and disabled monitoring of the decommissioned nuclear power plant in 2022, endangering operators at Chernobyl. In February 2025, a Russian drone struck the confinement structure—part of broader efforts to pressure Ukraine's energy infrastructure—punching a hole in the containment shell.

The Russia-Ukraine conflict is the largest ground war in Europe since World War II in casualties, forces mobilized, and displacement of civilians.

Protests in Ukraine from 2013 to 2014 set the stage for the current conflict

Beginning in November 2013, the Euromaidan movement saw hundreds of thousands of protesters gather in Kyiv's Independence Square after the government rejected an EU deal. Months of demonstrations and violent crackdowns culminated in President Yanukovych fleeing to Russia. Note: graphic content.

How disruptions in oil markets can drive up the price of everyday goods

Most types of plastic are made from polymers derived from chemicals produced by the processing and refining of crude oil and natural gas. Spikes in the cost of either fossil fuel raise the cost of wrappings, tubs, and other plastic containers for products.

In 2016 OPEC and 10 major producers—including Russia—launched OPEC+

OPEC+ emerged in 2016 when 10 additional producers, including Russia, joined to stabilize markets amid U.S. shale growth. In 2022, OPEC alone supplied 38 % of global crude oil, but combined with OPEC+, output reached nearly 59 % of world production—significantly amplifying its market power.

Many countries remained neutral after Russia's invasion of Ukraine

Following Russia's 2022 invasion of Ukraine, few nations outside the West imposed sanctions on Moscow. Major powers such as China, India, Brazil, and Turkey remained neutral, underscoring global divisions over how to confront Russian aggression.

The first year of war in Ukraine, in photos

The Russian/Ukrainian war grows more real in this series of photographs from Associated Press News. Showing the effects of war on soldiers and civilians alike, the photographs turn an unflinching eye on the injuries and fatalities wrought by the conflict, now in its second year after Russia's invasion in 2022.

How key commodities have performed since 2019, visualized

Due in part to factors such as the COVID-19 pandemic and global supply chain issues, commodities experienced significant volatility from 2019 to 2025. For instance, coffee bean prices saw major swings in recent years due to climate challenges in countries including Brazil and Vietnam.

A report found that the 2026 Iran war is the largest oil supply disruption in history

Oil flow through the Strait of Hormuz—responsible for roughly 20% of the world's oil supply—plummeted from 20 million barrels a day to "a trickle" during the initial weeks of the conflict between Iran, Israel, and the United States.

Ukraine's contested Donbas region: a visual explainer

Russia's heavily industrialized eastern Donbas region has been largely controlled by Russian separatists since 2014. Here's everything you need to know on the key strategic region.

Since its introduction, the price of bitcoin has experienced significant volatility

Driven in large part by speculation and intense social media attention during the pandemic, along with the availability of capital during near-zero interest rate periods, the price has seen at least three major crashes despite steadily increasing over the long run since 2014.

About 10% of the world's crude oil and 32% of its natural gas is reached via fracking

Most of the world's shale oil resources—which are recoverable via fracking—are found in Russia, the US, China, Argentina, and Libya. The majority of equivalent shale gas resources are found in China, Argentina, Algeria, the US, Canada, and Mexico.

How crude oil is split across oil markets based on geographic origin

Brent, West Texas Intermediate, and Dubai are the three crude oil classes and differ in terms of typical refinery uses, density, sulfur content, and suitability for financial benchmarking. Brent, which originates in the North Sea, is traders' go-to benchmark, in part, because it is easily shipped and politically stable, and used to price most of the crude sold internationally.

Stay up to date with the latest on the Russia-Ukraine war with BBC's 'Ukrainecast'

BBC's "Ukrainecast" offers ongoing coverage of the Russia-Ukraine war, featuring on-the-ground reporting, expert analysis, and personal stories from Ukrainians living through the conflict.

The rise of Vladimir Putin

Vladimir Putin's rise has been unprecedented. Over the years his actions have taken him from being a spy in East Germany to president of Russia. Learn more about his rise to power and the means by which he achieved it in this brief yet thorough nine-minute video.

Saddam Hussein invaded Kuwait to seize its oil amid Iraq’s debt crisis

This video explores how economic pressures—like rising debt and oil disputes—combined with political ambitions pushed Iraq, under Saddam Hussein, to invade Kuwait on August 2, 1990, triggering the Gulf War.

Between 2016 and 2023, PE spent more than $200B buying British companies

Between the COVID-19 pandemic and the United Kingdom's official departure from the European Union, the UK's economy struggled to recover. This economic strife led to British companies receiving steadily lower valuations than American companies, prompting a huge increase in PE investment. However, interest rates began increasing in 2022, putting pressure on the numerous leveraged buyout deals that took place between 2020 and 2021.

Russian Revolution of 1917: a gallery

Being in a place where history happened is a special feeling. This interactive photo gallery from the Guardian captures that experience with then-and-now images of landmarks that played a part in the Russian Revolution. Scroll through archival photos of Bolshevik supporters marching down St. Petersburg’s Nevsky Prospekt, then move the slider to the right to see how the same street looks today.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

In President Trump's first year of his second term, inflation fell from 3% year-over-year in January 2025 to 2.7% in December

While the price of eggs and bread went down over Trump's first year in office during his second term, coffee and beef prices rose. Utility bills and home insurance continued to surge, but mortgage rates, rent, and home prices began to stabilize in 2025.

Crunching the numbers on the cost of ransomware

This blog is a preview of the 2022 Crypto Crime Report, offering a summary of ransomware activity in 2021, the most active strains of ransomware, and more (w/ data, charts, and illustrations).

Volcanic activity may have triggered the Black Death by spewing gases that led to crop failures in Europe, thus forcing the import of grain ships with plague-infested fleas.

Fireworks-related ER visits are on the rise—in 2024, they increased by 52% as compared to the prior year.

Watch how viruses like Ebola can spill over from animals to humans—and vice-versa.

Poison ivy can cause rashes year-round since all parts of the plant contain urushiol, the oil that triggers our allergic response.

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

In 2019, a laptop loaded with six of the worst malware in history and described as 'an exhibit of historical weaponry' sold for $1.3M.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

Watch contemporary footage covering the US-backed Shah of Iran fleeing the country in the face of the 1979 Iranian Revolution

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

Explore an interactive map of battles from the American Revolution, along with detailed summaries of each engagement

See these 16 pieces of art evoking phobias of snakes, flying, spiders, and more. 

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

Some renewable energy sources may weaken the resiliency of electric grids by removing outage buffers provided by coal- and natural gas-fired plants, which provide the system with more time to find a new power source if a plant goes down.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

Explore chaos in this simulation of two double pendulums, where small differences in the release angles produce wildly different outcomes.

Children are now three times more likely to say they want to be a YouTuber when they grow up than an astronaut, with some even attending 'YouTube camps' that teach kids how to create content for the platform.

Waves off the coast of Nazaré, Portugal, can reach over 100 feet and are caused by the area's deep underwater canyon geography

Explore the known asteroids, comets, and spacecraft involved in asteroid studies within our solar system with 'Eyes on Asteroids,' a 3D visualization from NASA.

The distributor behind 'Rocky Horror' pulled the film from its scheduled national release, believing it would be a failure, though it eventually amassed a dedicated fanbase through midnight showings, a trend that continues over 50 years later.

Abraham Lincoln was almost assassinated weeks before his inauguration as he traveled from Illinois to DC through Baltimore in 1861; it took two independent claims for Lincoln to be convinced the threat was real

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'