TEXTILE SECTOR MULLS IMPACT OF RUSSIAN INVASION OF UKRAINE ON ENERGY PRICES
April 26th, 2022
Russia’s invasion of Ukraine has disrupted energy supplies and raised concerns about the future availability of oil and gas, inflating these commodity prices and hence energy prices, increasing textile and apparel processing costs worldwide. On December 21, as Russia was preparing to send its military into Ukraine-government controlled territory (February 24), Brent crude was selling for USD71.57 a barrel. On April 13, it had risen to USD108.59. (1) As for natural gas, its price rose from USD3.94 per MMBtu (million British thermal units) on December 21 to ...
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