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Ukraine has struck Russian gas production facilities, leading to a likely halt in Russian gasoline exports.
Andrew Follett stated this could raise global gas prices, as diminished Russian exports impact supply. This development may cause market uncertainty and increased energy costs for major importers.
Follett has previously reported on sharp currency moves affecting global markets. He highlighted the Iranian Rial’s 13,019 percent drop against the U.S. dollar, marking a severe devaluation. In a separate article, he noted the euro’s major loss against the dollar since the conflict began.