On Thursday, Nymex futures prices for the most active crude oil and gasoline contracts – an indication of the future cost of buying oil – spiked to their highest levels since July 2014, with the US benchmark West Texas Intermediate briefly touching $100 a barrel and reformulated gasoline prices rising as high as $3.07 a gallon.

Wheat prices continued their climb on Friday as fighting continued. Chicago Board of Trade wheat prices were trending higher before Russia’s invasion, but spiked higher still on Thursday and Friday, rising at one point to their highest level since April 2008.

Russia and Ukraine collectively are known as Europe’s breadbasket, responsible for 30% of the world’s export supply of wheat. Much of that is shipped through the Black Sea to the Middle East and African countries, which take advantage of lower prices and shipping costs from the region.