UK - Households facing biggest income hit in 30 years. Consumer prices in January rose at an annual rate of 5.5%. UK petrol prices are poised to hit a record 150p a litre. Electricity at £0.40/kWh and still growing. BoE calls for pay restraint. More taxes- UK businesses paid record £4.5bn in customs duties over the past year, due to the extra Brexit bureaucracy.

UK natural gas & base electricity futures contract prices have risen drastically over the past year. Gas prices in Europe rose above $960 per 1,000 cubic meters today. Germany's decision to halt Nordstream2 pipeline from Russia is worsening Europe's energy costs. Dutch TTF Gas Futures up 12% today. Brent crude @ $96 WTI crude @ $91 presently

US wheat futures mid-session have surged past the late November '21 top to the highest price since December 2012. Fears arise about disruptions to Black Sea trade flows from major exporters Russia and The Ukraine. Ships are avoiding entering the Black Sea because of the war risk. Supply disruptions are already taking place. Palladium (up 12% higher ytd) & platinum (24% higher for '22)markets dominated by Russia and is a big producer of Nickel (up 18% for '22). Corn futures up 3% today, to $6.62 1/2 a bushel. Paris based EuroNext futures exchange are up today by- Milling wheat - 9%, Rapeseed - 7.75%, Corn - 6.25%

At the moment, we are witnessing, first of all, the surgical work of the Russian Federation Armed Forces to deprive Ukraine of air defense, air force, navy, strike weapons, command structure and ammunition depots. This started just before dawn into the morning. -The Russian Defense Ministry told RIA Novosti. that high-precision weapons disable military infrastructure, air defense facilities, military airfields and aviation of the Ukrainian army
-The civilian population of Ukraine is not in danger, RIA Novosti was told in the Russian Defense Ministry

Brent crude approaching $103 USD per barrel. Russia has temporarily suspended shipping in the Sea of Azov, a source in the maritime sector told TASS. Reports of The Ukraine urging Turkey to shut down Russian ships sailing in the Bosporus.

European Gas Jumps 41% After Russia Attacks Ukraine Military Targets. Benchmark Dutch futures gained as much as 41% in their fourth-straight daily advance. German power for March soared as much as 31%. Russian gas exporter Gazprom PJSC said Thursday its transit to Europe via Ukraine is going as normal.

Brent crude nearing $105 per barrel. Oil Buyers Struggle To Finance Russian Crude Following Ukraine Invasion. Highest since 2014.

Ukraine's military has suspended commercial shipping at its ports . Russia earlier suspended the movement of commercial vessels in the Azov Sea until further notice, but kept Russian ports in the Black Sea open for navigation. Egypt's state grains buyer cancelled an international purchasing tender for wheat on Thursday as the crisis led to reports that no offers of either Russian or Ukrainian wheat had been received.

Ukraine/Russia wheat exports affected by port shutdowns and shippers not sailing in Azov Sea. US CME wheat futures price up over 12% this morning. In Europe's EuroNext exchange Milling Wheat is up 40% to $327 per ton. China’s customs agency approved imports of wheat from all regions of Russia, giving Putin an alternative to Western markets that might be closed under possible sanctions.

Europe benchmark Dutch natural gas futures rose as much as 62%, the most since at least 2005 this morning. Dutch TTF Gas Mar '22 is up 35% after a big correction. 120 euros per MWh. Other months contracts up 25-31% now.

Cyberattack - Multiple government websites in Russia including the Kremlin and the State Duma have fallen offline. US intelligence agencies offer Biden options for a "large-scale cyberattack" against Russia. Biden asked to cut internet connection in Russia, cut off electricity supply and cut railroad to prevent resupply - NBC