Markets · Commodity markets, August 26

Supply-side geopolitics drove the sharpest moves today

Wednesday, August 26, 2026. From GEO's evening brief, after the close.

Wheat surged 6.56% to 730.50¢/bu as Black Sea tensions escalated and Ukraine stepped up attacks stalling Russian grain exports. Refined products tightened alongside, with RBOB up 2.07% to $3.3201/gal and Bloomberg flagging record-low diesel supplies. Henry Hub rose 2.60% to $2.842/MMBtu on heat-driven power burn.

Written with AI from public sources, checked by code, reviewed by GEO. Not investment advice.