This is CBS I on the world with John Bachelor.

Here's John Bachelor.

After welcoming my colleague and friend Simon Constable in Ossetane near Albee in the south of France, Paradise,

always beginning on the first day of spring to see how good the weather can be in the

south of France. Simon, a good day to you. I'm proposing this is the first day of spring and

what is that like in and around I'll be good evening to you

good evening to you John it is springy sunny light temperatures about 70 to 71 Fahrenheit,

very light breeze, if any.

Lots of butterflies out there, a lot of birds,

squawking, and very happy animals and very happy people too. It's lovely.

Wonderful. So we go to commodities which because there is a war in the Middle East and a war in Europe,

we suggest there should be or could be or will be reaction by commodities

sensitive to the dollar, sensitive to the central banking, and especially sensitive to what appears to be a new front in Ukraine

war.

Over the last weeks Ukraine has started launching its fleet of drones against Russian refinery

capability on a 1,200 mile arc through Russia, these

refineries. Remember the joke about a gas station posing as a country. Well according to Bloomberg within these

last hours at some point 11% of Russian refinery capability has been offline.

Simon do we see that in the Brent Crude number that is Europe's bellwether?

Yes, we do see that. It's really quite a stark move up. We see it now. It peaked at about 87 a barrel and it's now down to 86, which is a lot higher than it was a week ago. That is a sign that you've basically seen a million barrels

plus of oil, of daily production, been knocked out of the refinery process.

And that's going to hurt Russia in two ways.

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