Commodities on Tenterhooks as Investors Await Next Ukraine Twist

(Bloomberg) — Commodities from gold to nickel and wheat took a calmer turn, with investors staying on alert for fresh developments in a Ukraine crisis that threatens to roil global supply chains.

U.S. sanctions on Russia unveiled by U.S. President Joe Biden were presented as a modest “first tranche” of measures and market reaction was muted. Still, any new escalation in the stand-off between Moscow and the West could disrupt global supply chains and add to inflationary pressures.