Fuel Origin

Events / War

Russian invasion of Ukraine (24 February 2022)

Dates
2022-02-24 → no end date recorded
Dated to
the day
Status
Ongoing
Scope
Ukraine

What the sources said

European Council, special meeting of 24 February 2022, document EUCO 18/22: "European Council conclusions on Russia's unprovoked and unjustified military aggression against Ukraine"; "The European Council condemns in the strongest possible terms the Russian Federation's unprovoked and unjustified military aggression against Ukraine." The conclusions are dated and headed 24 February 2022, which is the date recorded here. This row is a timeline marker only; it makes no statement about prices.

IEA, EIA, European Commission, European Council and national legislators (cited per row)Official
Retrieved 2026-09-23 07:22 UTCRevision 1
Source documents (2)
CountryCountryGermanyFranceNetherlandsPolandFinlandEstoniaAustriaBelgiumBulgariaCroatiaCyprusCzechiaDenmarkGreeceHungaryIrelandItalyLatviaLithuaniaLuxembourgMaltaPortugalRomaniaSlovakiaSloveniaSpainSweden
FuelFuelDiesel (automotive gas oil)Petrol (Euro-super 95)Both fuels

Choosing a fuel keeps that fuel's series and the channels shared by every fuel - the crude benchmark, FX, crude imports and Hormuz exposure. It drops only the other fuel's series.

The event window

What each series was worth from -30 to 90 days around the event date, how far that is from the same series' level at the event date, and how big that move is against the series' own normal variation.

Cyprus, Petrol (Euro-super 95). 15 series can be drawn; 4 cannot be seen at all and are shown as labelled empty panels below.

169 published readings, 26 offsets with nothing published within one period, and 52 offsets on series we cannot see at all. Every one of them is on this page.

Europe Brent spot FOB

Unit: $ per barrelPublished: dailyCalculatedOfficial
T0−30−14T0+14+30+60+90126.785.52022-01-25: 89.49 $ per barrel, used for offsets −302022-02-10: 96.37 $ per barrel, used for offsets −142022-02-17: 95.28 $ per barrel, used for offsets −72022-02-21: 98.95 $ per barrel, used for offsets −32022-02-23: 99.29 $ per barrel, used for offsets −1same print as T0 — 2022-02-24, 101.3 $ per barrel, used for offsets T02022-02-25: 98.56 $ per barrel, used for offsets +1, +32022-03-03: 115.4 $ per barrel, used for offsets +72022-03-10: 114.5 $ per barrel, used for offsets +142022-03-25: 122.7 $ per barrel, used for offsets +302022-04-25: 99.27 $ per barrel, used for offsets +602022-05-25: 116.4 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for Europe Brent spot FOB: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-2589.49-11.800-11.65%-2.69
−142022-02-1096.37-4.920-4.86%-1.12
−72022-02-1795.28-6.010-5.93%-1.37
−32022-02-2198.95-2.340-2.31%-0.53
−12022-02-2399.29-2.000-1.97%-0.46
T02022-02-24same print as T0101.30.0000.00%0.00
+12022-02-2598.56-2.730-2.70%-0.62
+32022-02-2598.56-2.730-2.70%-0.62
+72022-03-03115.4+14.070+13.89%+3.20
+142022-03-10114.5+13.250+13.08%+3.02
+302022-03-25122.7+21.380+21.11%+4.87
+602022-04-2599.27-2.020-1.99%-0.46
+902022-05-25116.4+15.120+14.93%+3.44

One volatility unit for this series is 4.34%, the standard deviation of its own day-on-day percentage changes over the three years before the event (767 changes). It is not a significance test.

reported crude oil imports, all origins

Unit: tonnesPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+901.0000.0002022-01-01: 0 tonnes, used for offsets −30same print as T0 — 2022-02-01, 0 tonnes, used for offsets −14, −7, −3, −1, T0, +1, +32022-03-01: 0 tonnes, used for offsets +7, +14, +302022-04-01: 0 tonnes, used for offsets +602022-05-01: 0 tonnes, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for reported crude oil imports, all origins: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-0100.000not publishednot published
−142022-02-01same print as T000.000not publishednot published
−72022-02-01same print as T000.000not publishednot published
−32022-02-01same print as T000.000not publishednot published
−12022-02-01same print as T000.000not publishednot published
T02022-02-01same print as T000.000not publishednot published
+12022-02-01same print as T000.000not publishednot published
+32022-02-01same print as T000.000not publishednot published
+72022-03-0100.000not publishednot published
+142022-03-0100.000not publishednot published
+302022-03-0100.000not publishednot published
+602022-04-0100.000not publishednot published
+902022-05-0100.000not publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.9570.6542022-01-24: 0.6830 € per litre, used for offsets −302022-02-07: 0.7248 € per litre, used for offsets −142022-02-14: 0.7404 € per litre, used for offsets −7same print as T0 — 2022-02-21, 0.7546 € per litre, used for offsets −3, −1, T0, +1, +32022-02-28: 0.7716 € per litre, used for offsets +72022-03-07: 0.7935 € per litre, used for offsets +142022-03-21: 0.8720 € per litre, used for offsets +302022-04-25: 0.8906 € per litre, used for offsets +602022-05-23: 0.9278 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-240.6830-0.072-9.49%-3.93
−142022-02-070.7248-0.030-3.95%-1.63
−72022-02-140.7404-0.014-1.88%-0.78
−32022-02-21same print as T00.75460.0000.00%0.00
−12022-02-21same print as T00.75460.0000.00%0.00
T02022-02-21same print as T00.75460.0000.00%0.00
+12022-02-21same print as T00.75460.0000.00%0.00
+32022-02-21same print as T00.75460.0000.00%0.00
+72022-02-280.7716+0.017+2.25%+0.93
+142022-03-070.7935+0.039+5.16%+2.14
+302022-03-210.8720+0.117+15.56%+6.44
+602022-04-250.8906+0.136+18.02%+7.46
+902022-05-230.9278+0.173+22.95%+9.50

One volatility unit for this series is 2.42%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

ECB euro foreign exchange reference rate

Unit: US dollars per euroPublished: dailyCalculatedOfficial
T0−30−14T0+14+30+60+901.1531.0562022-01-25: 1.127 US dollars per euro, used for offsets −302022-02-10: 1.144 US dollars per euro, used for offsets −142022-02-17: 1.137 US dollars per euro, used for offsets −72022-02-21: 1.134 US dollars per euro, used for offsets −32022-02-23: 1.134 US dollars per euro, used for offsets −1same print as T0 — 2022-02-24, 1.116 US dollars per euro, used for offsets T02022-02-25: 1.122 US dollars per euro, used for offsets +1, +32022-03-03: 1.108 US dollars per euro, used for offsets +72022-03-10: 1.108 US dollars per euro, used for offsets +142022-03-25: 1.100 US dollars per euro, used for offsets +302022-04-25: 1.075 US dollars per euro, used for offsets +602022-05-25: 1.066 US dollars per euro, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for ECB euro foreign exchange reference rate: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-251.127+0.011+0.94%+2.37
−142022-02-101.144+0.028+2.47%+6.23
−72022-02-171.137+0.021+1.85%+4.67
−32022-02-211.134+0.017+1.57%+3.95
−12022-02-231.134+0.018+1.62%+4.09
T02022-02-24same print as T01.1160.0000.00%0.00
+12022-02-251.122+0.005+0.47%+1.20
+32022-02-251.122+0.005+0.47%+1.20
+72022-03-031.108-0.009-0.78%-1.96
+142022-03-101.108-0.008-0.71%-1.78
+302022-03-251.100-0.016-1.44%-3.64
+602022-04-251.075-0.042-3.74%-9.42
+902022-05-251.066-0.051-4.54%-11.45

One volatility unit for this series is 0.40%, the standard deviation of its own day-on-day percentage changes over the three years before the event (770 changes). It is not a significance test.

direct crude Hormuz exposure D1

Unit: % of imported tonnesPublished: monthlyUnknownUnknown
T0−30−14T0+14+30+60+901.120-0.120

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. The line stops at −30, −14, −7, −3, −1, T0, +1, +3, +7, +14, +30, +60, +90 where no figure was published within one period of the offset.

Window table for direct crude Hormuz exposure D1: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-01not publishednot publishednot publishednot published
−142022-02-01not publishednot publishednot publishednot published
−72022-02-01not publishednot publishednot publishednot published
−32022-02-01not publishednot publishednot publishednot published
−12022-02-01not publishednot publishednot publishednot published
T02022-02-01not publishednot publishednot publishednot published
+12022-02-01not publishednot publishednot publishednot published
+32022-02-01not publishednot publishednot publishednot published
+72022-03-01not publishednot publishednot publishednot published
+142022-03-01not publishednot publishednot publishednot published
+302022-03-01not publishednot publishednot publishednot published
+602022-04-01not publishednot publishednot publishednot published
+902022-05-01not publishednot publishednot publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

direct refined-product Hormuz exposure D2

Unit: % of imported tonnesPublished: monthlyUnknownUnknown
T0−30−14T0+14+30+60+9042.800.002022-01-01: 0 to 27.55 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2022-02-01: 0 to 30.79 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2022-03-01: 0 to 25.32 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2022-04-01: 0 to 30.53 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2022-05-01: 0 to 38.22 % of imported tonnes. No point estimate is published, so no midpoint is drawn.

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits. The shaded band is the admissible range. No midpoint is drawn, because no point estimate is published.

Window table for direct refined-product Hormuz exposure D2: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-010–27.55not publishednot publishednot published
−142022-02-010–30.79not publishednot publishednot published
−72022-02-010–30.79not publishednot publishednot published
−32022-02-010–30.79not publishednot publishednot published
−12022-02-010–30.79not publishednot publishednot published
T02022-02-010–30.79not publishednot publishednot published
+12022-02-010–30.79not publishednot publishednot published
+32022-02-010–30.79not publishednot publishednot published
+72022-03-010–25.32not publishednot publishednot published
+142022-03-010–25.32not publishednot publishednot published
+302022-03-010–25.32not publishednot publishednot published
+602022-04-010–30.53not publishednot publishednot published
+902022-05-010–38.22not publishednot publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

inventory exposure D7: published days of emergency stock cover, carried through

Unit: days of coverPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+90100.188.92022-01-01: 99.00 days of cover, used for offsets −30same print as T0 — 2022-02-01, 99.00 days of cover, used for offsets −14, −7, −3, −1, T0, +1, +32022-03-01: 99.00 days of cover, used for offsets +7, +14, +302022-04-01: 90.00 days of cover, used for offsets +602022-05-01: 90.00 days of cover, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for inventory exposure D7: published days of emergency stock cover, carried through: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-0199.000.0000.00%0.00
−142022-02-01same print as T099.000.0000.00%0.00
−72022-02-01same print as T099.000.0000.00%0.00
−32022-02-01same print as T099.000.0000.00%0.00
−12022-02-01same print as T099.000.0000.00%0.00
T02022-02-01same print as T099.000.0000.00%0.00
+12022-02-01same print as T099.000.0000.00%0.00
+32022-02-01same print as T099.000.0000.00%0.00
+72022-03-0199.000.0000.00%0.00
+142022-03-0199.000.0000.00%0.00
+302022-03-0199.000.0000.00%0.00
+602022-04-0190.00-9.000-9.09%-1.30
+902022-05-0190.00-9.000-9.09%-1.30

One volatility unit for this series is 6.99%, the standard deviation of its own month-on-month percentage changes over the three years before the event (35 changes). It is not a significance test.

crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled)

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.7310.4812022-01-24: 0.5049 € per litre, used for offsets −302022-02-07: 0.5307 € per litre, used for offsets −142022-02-14: 0.5419 € per litre, used for offsets −7same print as T0 — 2022-02-21, 0.5541 € per litre, used for offsets −3, −1, T0, +1, +32022-02-28: 0.6491 € per litre, used for offsets +72022-03-07: 0.7014 € per litre, used for offsets +142022-03-21: 0.7064 € per litre, used for offsets +302022-04-25: 0.6165 € per litre, used for offsets +602022-05-23: 0.6922 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled): value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-240.5049-0.049-8.88%-1.15
−142022-02-070.5307-0.023-4.22%-0.55
−72022-02-140.5419-0.012-2.19%-0.29
−32022-02-21same print as T00.55410.0000.00%0.00
−12022-02-21same print as T00.55410.0000.00%0.00
T02022-02-21same print as T00.55410.0000.00%0.00
+12022-02-21same print as T00.55410.0000.00%0.00
+32022-02-21same print as T00.55410.0000.00%0.00
+72022-02-280.6491+0.095+17.15%+2.23
+142022-03-070.7014+0.147+26.58%+3.45
+302022-03-210.7064+0.152+27.49%+3.57
+602022-04-250.6165+0.062+11.26%+1.46
+902022-05-230.6922+0.138+24.93%+3.24

One volatility unit for this series is 7.69%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

national total oil stocks (Eurostat, commercial holders), with the published days of cover alongside

Unit: tonnesPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+90685,452593,1202022-01-01: 676,517 tonnes, used for offsets −30same print as T0 — 2022-02-01, 641,803 tonnes, used for offsets −14, −7, −3, −1, T0, +1, +32022-03-01: 605,907 tonnes, used for offsets +7, +14, +302022-04-01: 602,055 tonnes, used for offsets +602022-05-01: 611,413 tonnes, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for national total oil stocks (Eurostat, commercial holders), with the published days of cover alongside: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-01676,517+34,714+5.41%+0.73
−142022-02-01same print as T0641,8030.0000.00%0.00
−72022-02-01same print as T0641,8030.0000.00%0.00
−32022-02-01same print as T0641,8030.0000.00%0.00
−12022-02-01same print as T0641,8030.0000.00%0.00
T02022-02-01same print as T0641,8030.0000.00%0.00
+12022-02-01same print as T0641,8030.0000.00%0.00
+32022-02-01same print as T0641,8030.0000.00%0.00
+72022-03-01605,907-35,896-5.59%-0.76
+142022-03-01605,907-35,896-5.59%-0.76
+302022-03-01605,907-35,896-5.59%-0.76
+602022-04-01602,055-39,748-6.19%-0.84
+902022-05-01611,413-30,390-4.74%-0.64

One volatility unit for this series is 7.39%, the standard deviation of its own month-on-month percentage changes over the three years before the event (35 changes). It is not a significance test.

not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.127-0.0792022-01-24: 0.0010 € per litre, used for offsets −302022-02-07: -0.0065 € per litre, used for offsets −142022-02-14: -0.0004 € per litre, used for offsets −7same print as T0 — 2022-02-21, 0 € per litre, used for offsets −3, −1, T0, +1, +32022-02-28: -0.0124 € per litre, used for offsets +72022-03-07: -0.0256 € per litre, used for offsets +142022-03-21: -0.0587 € per litre, used for offsets +302022-04-25: 0.0066 € per litre, used for offsets +602022-05-23: 0.1067 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-240.0010+0.001not publishednot published
−142022-02-07-0.0065-0.007not publishednot published
−72022-02-14-0.0004-0.000not publishednot published
−32022-02-21same print as T000.000not publishednot published
−12022-02-21same print as T000.000not publishednot published
T02022-02-21same print as T000.000not publishednot published
+12022-02-21same print as T000.000not publishednot published
+32022-02-21same print as T000.000not publishednot published
+72022-02-28-0.0124-0.012not publishednot published
+142022-03-07-0.0256-0.026not publishednot published
+302022-03-21-0.0587-0.059not publishednot published
+602022-04-250.0066+0.007not publishednot published
+902022-05-230.1067+0.107not publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

Weekly Oil Bulletin price with taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.7111.2972022-01-24: 1.337 € per litre, used for offsets −302022-02-07: 1.378 € per litre, used for offsets −142022-02-14: 1.404 € per litre, used for offsets −7same print as T0 — 2022-02-21, 1.421 € per litre, used for offsets −3, −1, T0, +1, +32022-02-28: 1.427 € per litre, used for offsets +72022-03-07: 1.437 € per litre, used for offsets +142022-03-21: 1.408 € per litre, used for offsets +302022-04-25: 1.508 € per litre, used for offsets +602022-05-23: 1.671 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price with taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-241.337-0.084-5.91%-4.52
−142022-02-071.378-0.043-3.04%-2.33
−72022-02-141.404-0.017-1.22%-0.94
−32022-02-21same print as T01.4210.0000.00%0.00
−12022-02-21same print as T01.4210.0000.00%0.00
T02022-02-21same print as T01.4210.0000.00%0.00
+12022-02-21same print as T01.4210.0000.00%0.00
+32022-02-21same print as T01.4210.0000.00%0.00
+72022-02-281.427+0.006+0.39%+0.30
+142022-03-071.437+0.016+1.12%+0.85
+302022-03-211.408-0.013-0.94%-0.72
+602022-04-251.508+0.086+6.08%+4.65
+902022-05-231.671+0.250+17.57%+13.44

One volatility unit for this series is 1.31%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

Weekly Oil Bulletin price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.0760.6422022-01-24: 0.6840 € per litre, used for offsets −302022-02-07: 0.7183 € per litre, used for offsets −142022-02-14: 0.7400 € per litre, used for offsets −7same print as T0 — 2022-02-21, 0.7546 € per litre, used for offsets −3, −1, T0, +1, +32022-02-28: 0.7592 € per litre, used for offsets +72022-03-07: 0.7679 € per litre, used for offsets +142022-03-21: 0.8134 € per litre, used for offsets +302022-04-25: 0.8972 € per litre, used for offsets +602022-05-23: 1.034 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-240.6840-0.071-9.35%-3.80
−142022-02-070.7183-0.036-4.81%-1.95
−72022-02-140.7400-0.015-1.94%-0.79
−32022-02-21same print as T00.75460.0000.00%0.00
−12022-02-21same print as T00.75460.0000.00%0.00
T02022-02-21same print as T00.75460.0000.00%0.00
+12022-02-21same print as T00.75460.0000.00%0.00
+32022-02-21same print as T00.75460.0000.00%0.00
+72022-02-280.7592+0.005+0.61%+0.25
+142022-03-070.7679+0.013+1.77%+0.72
+302022-03-210.8134+0.059+7.79%+3.16
+602022-04-250.8972+0.143+18.90%+7.67
+902022-05-231.034+0.280+37.09%+15.05

One volatility unit for this series is 2.46%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

total tax per litre: price with taxes minus price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.6780.5862022-01-24: 0.6532 € per litre, used for offsets −302022-02-07: 0.6597 € per litre, used for offsets −142022-02-14: 0.6638 € per litre, used for offsets −7same print as T0 — 2022-02-21, 0.6666 € per litre, used for offsets −3, −1, T0, +1, +32022-02-28: 0.6675 € per litre, used for offsets +72022-03-07: 0.6692 € per litre, used for offsets +142022-03-21: 0.5945 € per litre, used for offsets +302022-04-25: 0.6104 € per litre, used for offsets +602022-05-23: 0.6365 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for total tax per litre: price with taxes minus price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-240.6532-0.013-2.01%-5.25
−142022-02-070.6597-0.007-1.03%-2.70
−72022-02-140.6638-0.003-0.42%-1.09
−32022-02-21same print as T00.66660.0000.00%0.00
−12022-02-21same print as T00.66660.0000.00%0.00
T02022-02-21same print as T00.66660.0000.00%0.00
+12022-02-21same print as T00.66660.0000.00%0.00
+32022-02-21same print as T00.66660.0000.00%0.00
+72022-02-280.6675+0.001+0.13%+0.35
+142022-03-070.6692+0.003+0.38%+1.00
+302022-03-210.5945-0.072-10.82%-28.27
+602022-04-250.6104-0.056-8.43%-22.02
+902022-05-230.6365-0.030-4.52%-11.80

One volatility unit for this series is 0.38%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

US proxy - not a European price: US gasoline spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).

Unit: $ per barrelPublished: dailyCalculatedLow
T0−30−14T0+14+30+60+9051.418.992022-01-25: 15.43 $ per barrel, used for offsets −302022-02-10: 17.95 $ per barrel, used for offsets −142022-02-17: 18.67 $ per barrel, used for offsets −72022-02-18: 19.03 $ per barrel, used for offsets −32022-02-23: 17.39 $ per barrel, used for offsets −1same print as T0 — 2022-02-24, 17.36 $ per barrel, used for offsets T02022-02-25: 18.28 $ per barrel, used for offsets +1, +32022-03-03: 18.33 $ per barrel, used for offsets +72022-03-10: 13.10 $ per barrel, used for offsets +142022-03-25: 16.69 $ per barrel, used for offsets +302022-04-25: 36.43 $ per barrel, used for offsets +602022-05-25: 47.31 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for US proxy - not a European price: US gasoline spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-2515.43-1.934-11.14%-0.06
−142022-02-1017.95+0.594+3.42%+0.02
−72022-02-1718.67+1.306+7.52%+0.04
−32022-02-1819.03+1.666+9.60%+0.05
−12022-02-2317.39+0.026+0.15%+0.00
T02022-02-24same print as T017.360.0000.00%0.00
+12022-02-2518.28+0.924+5.32%+0.03
+32022-02-2518.28+0.924+5.32%+0.03
+72022-03-0318.33+0.966+5.56%+0.03
+142022-03-1013.10-4.262-24.55%-0.14
+302022-03-2516.69-0.674-3.88%-0.02
+602022-04-2536.43+19.072+109.86%+0.61
+902022-05-2547.31+29.946+172.50%+0.95

One volatility unit for this series is 180.80%, the standard deviation of its own day-on-day percentage changes over the three years before the event (751 changes). It is not a significance test.

US proxy - not a European price: US jet spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).

Unit: $ per barrelPublished: dailyCalculatedLow
T0−30−14T0+14+30+60+9086.115.052022-01-25: 13.79 $ per barrel, used for offsets −302022-02-10: 16.48 $ per barrel, used for offsets −142022-02-17: 13.25 $ per barrel, used for offsets −72022-02-18: 12.98 $ per barrel, used for offsets −32022-02-23: 12.89 $ per barrel, used for offsets −1same print as T0 — 2022-02-24, 12.99 $ per barrel, used for offsets T02022-02-25: 14.50 $ per barrel, used for offsets +1, +32022-03-03: 23.95 $ per barrel, used for offsets +72022-03-10: 16.37 $ per barrel, used for offsets +142022-03-25: 37.98 $ per barrel, used for offsets +302022-04-25: 78.26 $ per barrel, used for offsets +602022-05-25: 40.71 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset.

Window table for US proxy - not a European price: US jet spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-01-2513.79+0.796+6.13%+0.04
−142022-02-1016.48+3.492+26.88%+0.15
−72022-02-1713.25+0.256+1.97%+0.01
−32022-02-1812.98-0.014-0.11%-0.00
−12022-02-2312.89-0.100-0.77%-0.00
T02022-02-24same print as T012.990.0000.00%0.00
+12022-02-2514.50+1.512+11.64%+0.07
+32022-02-2514.50+1.512+11.64%+0.07
+72022-03-0323.95+10.962+84.38%+0.48
+142022-03-1016.37+3.382+26.03%+0.15
+302022-03-2537.98+24.988+192.33%+1.10
+602022-04-2578.26+65.272+502.40%+2.88
+902022-05-2540.71+27.720+213.36%+1.22

One volatility unit for this series is 174.63%, the standard deviation of its own day-on-day percentage changes over the three years before the event (751 changes). It is not a significance test.

Not available: licence-blocked

A source exists and its licence does not permit us to republish it. These channels are not missing from the world, only from this page.

Arabian Gulf to north-west Europe dirty tanker rate

Tanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.

13 offsets in the window are affected.

EU refined-product benchmark

EU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.

13 offsets in the window are affected.

north-west Europe refining margin / crack spread

No published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.

13 offsets in the window are affected.

wholesale / rack price

Wholesale / rack price series are proprietary with no redistribution grant.

13 offsets in the window are affected.

Source
European Commission, Directorate-General for Energy (DG ENER)Unknown
Period 2022-01Updated 2026-09-25 14:09 UTCConfidenceUnknownMethodologyDownload CSV

T0 is 2022-02-24. The baseline window is -90 to -31 days. Offsets materialised: -30, -14, -7, -3, -1, 0, 1, 3, 7, 14, 30, 60, 90. Method 1.0, calculation event_study-1.0, computed 2026-09-25 14:09 UTC.

Is Russian invasion of Ukraine (24 February 2022) really the reason?

The question splits into dimensions that are measured separately and never added into one number. Each row says whether we can see that dimension at all, and gives one published figure where we can.

Of the eight price-transmission channels this site reports, 4 have data in this run Calculated - a count of the rows below, not a measurement.

Methodology §11.1 publishes the thresholds the sentences below use: all eight channels present for the full comparison, at least three for the claim to be testable here at all, and 2.0 volatility units for a move to be described as outside a series' normal variation. Those are published wording choices, not statistical tests.

Dimensions of exposure to Russian invasion of Ukraine (24 February 2022), each with its status and one published figure.
DimensionStatusPublished figure, or why there is none
Direct crude exposure (D1)Share of imported crude whose route requires the Strait of Hormuz.Nothing published in the windownot published
Direct product exposure (D2)Share of imported refined product whose route requires the Strait of Hormuz.Range only0–25.32 % of imported tonnes at +30 d (2022-03) · no midpoint
Emergency stock cover (D7)Days of cover the published emergency stocks amount to. A buffer against a supply disruption, not a share of imports, and not a price channel.Observed99.00 days of cover at +30 d (published 2022-03-01)0.00% from the level at T0 = 0.00 volatility units
Crude benchmarkThe quoted crude price European cargoes are priced against.Observed122.7 $ per barrel at +30 d (published 2022-03-25)+21.11% from the level at T0 = +4.87 volatility units
Refined-product benchmarkThe quoted product price refineries and wholesalers price against.UnavailableEU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.
Refining marginWhat refining a barrel into this product earned.UnavailableNo published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.
Freight ratesWhat it cost to ship the cargo.UnavailableTanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.
InventoriesStocks held, which absorb or amplify a supply change.Observed605,907 tonnes at +30 d (published 2022-03-01)-5.59% from the level at T0 = -0.76 volatility units
Wholesale pricesThe price between the refinery gate and the forecourt.UnavailableWholesale / rack price series are proprietary with no redistribution grant.
Pump price before taxThe pump price with excise, VAT and other fuel taxes stripped out.Observed0.8134 € per litre at +30 d (published 2022-03-21)+7.79% from the level at T0 = +3.16 volatility units
Pump price with taxWhat a driver actually paid.Observed1.408 € per litre at +30 d (published 2022-03-21)-0.94% from the level at T0 = -0.72 volatility units

Physical exposure to the Strait of Hormuz and price exposure are different questions. A country with almost no direct physical exposure can still see its pump price move, because crude is priced globally - and a series that moved in this window may have moved for other reasons.

What the pump price did around this date

The decomposition page can be pinned to the weeks around the event date, so the pump move can be split into tax, input cost and the part the input cost does not account for.

Price decomposition, 2022-02-17 to 2022-03-26 →

The window is the published event date minus 7 days to plus 30 days. It is a window for looking, not a claim that the event caused what is inside it.

Actual vs crude-only: Cyprus, petrol (euro-super 95)

What the pre-tax price did from four weeks before to thirteen weeks after the event week, next to what it would have done had it followed only the crude input cost at the speed the stored pass-through estimate measures. The shaded difference is not explained by crude; it is not attributed to the event or to anything else.

The crude-only comparison could not be read.

API 404 for /api/events/ru-invasion-ukraine-2022/crude-only: No stored crude-only run for 'ru-invasion-ukraine-2022' and country 'cyprus'. Runs are stored for the pilot countries; available_countries lists them.

What the numbers support, sentence by sentence

Each sentence comes from a fixed template, chosen by published thresholds. Open “why this sentence” to see the numbers that selected it. None of this text is written by a language model, and none of it attributes cause.

  1. In the 7 days after Russian invasion of Ukraine (24 February 2022), Cyprus' pre-tax petrol price moved +0.6%, which is 0.2 times its normal week-to-week variation over the previous three years — within that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    0.7592300000000001
    status
    OBSERVED
    country
    Cyprus
    z_score
    5.775850278800319
    t0_value
    0.7545900000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    0.6149034575067225
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    7
    series_code
    RETAIL_PRETAX_CY_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-02-28
    same_observation
    false
    volatility_units
    0.24948897726332858
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.0046399999999999775
    change_pct_from_t0
    0.6149034575067225
    observation_gap_days
    3
    normal_volatility_pct
    2.4646518024630373
    change_in_volatility_units
    0.24948897726332858
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    0.7592300000000001
    status
    OBSERVED
    country
    Cyprus
    z_score
    5.775850278800319
    t0_value
    0.7545900000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    0.6149034575067225
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_PRETAX_CY_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-02-28
    same_observation
    false
    volatility_units
    0.24948897726332858
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.0046399999999999775
    change_pct_from_t0
    0.6149034575067225
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    3
    normal_volatility_pct
    2.4646518024630373
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    0.24948897726332858

    Template event.price_move.within_normal v1.1 · Fingerprint b8d205a3f5b54d113ea76543f74e7beee4f3b76d80b12040535919657f573572 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  2. In the 30 days after Russian invasion of Ukraine (24 February 2022), Cyprus' pre-tax petrol price moved +7.8%, which is 3.2 times its normal week-to-week variation over the previous three years — outside that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    0.8133600000000001
    status
    OBSERVED
    country
    Cyprus
    z_score
    9.719551525578545
    t0_value
    0.7545900000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    7.7883353874289325
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    30
    series_code
    RETAIL_PRETAX_CY_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-03-21
    same_observation
    false
    volatility_units
    3.160014481415062
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.05876999999999999
    change_pct_from_t0
    7.7883353874289325
    observation_gap_days
    5
    normal_volatility_pct
    2.4646518024630373
    change_in_volatility_units
    3.160014481415062
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    0.8133600000000001
    status
    OBSERVED
    country
    Cyprus
    z_score
    9.719551525578545
    t0_value
    0.7545900000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    7.7883353874289325
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_PRETAX_CY_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-03-21
    same_observation
    false
    volatility_units
    3.160014481415062
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.05876999999999999
    change_pct_from_t0
    7.7883353874289325
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    2.4646518024630373
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    3.160014481415062

    Template event.price_move.outside_normal v1.1 · Fingerprint d970e9868900226a7113285448308e30e7fb27881e6f79b30150fcac1ad525db · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  3. In the 90 days after Russian invasion of Ukraine (24 February 2022), Cyprus' pre-tax petrol price moved +37.1%, which is 15.0 times its normal week-to-week variation over the previous three years — outside that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.03444
    status
    OBSERVED
    country
    Cyprus
    z_score
    25.826580375342633
    t0_value
    0.7545900000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    37.08636478087437
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    90
    series_code
    RETAIL_PRETAX_CY_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-05-23
    same_observation
    false
    volatility_units
    15.047303941194572
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.27984999999999993
    change_pct_from_t0
    37.08636478087437
    observation_gap_days
    2
    normal_volatility_pct
    2.4646518024630373
    change_in_volatility_units
    15.047303941194572
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.03444
    status
    OBSERVED
    country
    Cyprus
    z_score
    25.826580375342633
    t0_value
    0.7545900000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    37.08636478087437
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_PRETAX_CY_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-05-23
    same_observation
    false
    volatility_units
    15.047303941194572
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.27984999999999993
    change_pct_from_t0
    37.08636478087437
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    2.4646518024630373
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    15.047303941194572

    Template event.price_move.outside_normal v1.1 · Fingerprint ff0f957219d145cbc65ead5c5a02aa5e5d12d3f74d3800af765f607031e5f818 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  4. In the 7 days after Russian invasion of Ukraine (24 February 2022), Cyprus' tax-inclusive petrol price moved +0.4%, which is 0.3 times its normal week-to-week variation over the previous three years — within that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.42673
    status
    OBSERVED
    country
    Cyprus
    z_score
    5.775700446149586
    t0_value
    1.4212
    fuel_type
    EURO_SUPER_95
    change_pct
    0.3891077962285417
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    7
    series_code
    RETAIL_INCLTAX_CY_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-02-28
    same_observation
    false
    volatility_units
    0.29768834585003723
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.005530000000000035
    change_pct_from_t0
    0.3891077962285417
    observation_gap_days
    3
    normal_volatility_pct
    1.3070978479774202
    change_in_volatility_units
    0.29768834585003723
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.42673
    status
    OBSERVED
    country
    Cyprus
    z_score
    5.775700446149586
    t0_value
    1.4212
    fuel_type
    EURO_SUPER_95
    change_pct
    0.3891077962285417
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_INCLTAX_CY_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-02-28
    same_observation
    false
    volatility_units
    0.29768834585003723
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.005530000000000035
    change_pct_from_t0
    0.3891077962285417
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    3
    normal_volatility_pct
    1.3070978479774202
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    0.29768834585003723

    Template event.price_move.within_normal v1.1 · Fingerprint 8e91de41587e175b4181e5d9e651656dcde123422e16c458169fd1a5966dad20 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  5. In the 30 days after Russian invasion of Ukraine (24 February 2022), Cyprus' tax-inclusive petrol price moved -0.9%, which is 0.7 times its normal week-to-week variation over the previous three years — within that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.40784
    status
    OBSERVED
    country
    Cyprus
    z_score
    4.619244114933368
    t0_value
    1.4212
    fuel_type
    EURO_SUPER_95
    change_pct
    -0.9400506614128932
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    30
    series_code
    RETAIL_INCLTAX_CY_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-03-21
    same_observation
    false
    volatility_units
    -0.7191892044405939
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.013360000000000039
    change_pct_from_t0
    -0.9400506614128932
    observation_gap_days
    5
    normal_volatility_pct
    1.3070978479774202
    change_in_volatility_units
    -0.7191892044405939
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.40784
    status
    OBSERVED
    country
    Cyprus
    z_score
    4.619244114933368
    t0_value
    1.4212
    fuel_type
    EURO_SUPER_95
    change_pct
    -0.9400506614128932
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_INCLTAX_CY_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-03-21
    same_observation
    false
    volatility_units
    -0.7191892044405939
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.013360000000000039
    change_pct_from_t0
    -0.9400506614128932
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    1.3070978479774202
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.7191892044405939

    Template event.price_move.within_normal v1.1 · Fingerprint 1c771ce325ccfde678d69912e3238b718efacf8691cb17cd7db29d6bc598c9b0 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  6. In the 90 days after Russian invasion of Ukraine (24 February 2022), Cyprus' tax-inclusive petrol price moved +17.6%, which is 13.4 times its normal week-to-week variation over the previous three years — outside that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.67093
    status
    OBSERVED
    country
    Cyprus
    z_score
    20.725760588182382
    t0_value
    1.4212
    fuel_type
    EURO_SUPER_95
    change_pct
    17.571770334928228
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    90
    series_code
    RETAIL_INCLTAX_CY_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-05-23
    same_observation
    false
    volatility_units
    13.44334730725666
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.24973
    change_pct_from_t0
    17.571770334928228
    observation_gap_days
    2
    normal_volatility_pct
    1.3070978479774202
    change_in_volatility_units
    13.44334730725666
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.67093
    status
    OBSERVED
    country
    Cyprus
    z_score
    20.725760588182382
    t0_value
    1.4212
    fuel_type
    EURO_SUPER_95
    change_pct
    17.571770334928228
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_INCLTAX_CY_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-05-23
    same_observation
    false
    volatility_units
    13.44334730725666
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.24973
    change_pct_from_t0
    17.571770334928228
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    1.3070978479774202
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    13.44334730725666

    Template event.price_move.outside_normal v1.1 · Fingerprint c81130b77eb676df76bb67fef502d6561246f2c6e8a8094c36138521f75a163c · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  7. In the 7 days after Russian invasion of Ukraine (24 February 2022), Cyprus' pre-tax diesel price moved +0.3%, which is 0.1 times its normal week-to-week variation over the previous three years — within that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    0.83484
    status
    OBSERVED
    country
    Cyprus
    z_score
    5.094020117694876
    t0_value
    0.83275
    fuel_type
    DIESEL
    change_pct
    0.25097568297808903
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    7
    series_code
    RETAIL_PRETAX_CY_DIESEL
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-02-28
    same_observation
    false
    volatility_units
    0.11974092231944243
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.0020900000000000363
    change_pct_from_t0
    0.25097568297808903
    observation_gap_days
    3
    normal_volatility_pct
    2.0959892250415537
    change_in_volatility_units
    0.11974092231944243
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    0.83484
    status
    OBSERVED
    country
    Cyprus
    z_score
    5.094020117694876
    t0_value
    0.83275
    fuel_type
    DIESEL
    change_pct
    0.25097568297808903
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_PRETAX_CY_DIESEL
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-02-28
    same_observation
    false
    volatility_units
    0.11974092231944243
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.0020900000000000363
    change_pct_from_t0
    0.25097568297808903
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    3
    normal_volatility_pct
    2.0959892250415537
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    0.11974092231944243

    Template event.price_move.within_normal v1.1 · Fingerprint fa56ac3cc57b222a001bf46a3185c3f3d2cd1ca6dffd042ec664c6eee30fd149 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  8. In the 30 days after Russian invasion of Ukraine (24 February 2022), Cyprus' pre-tax diesel price moved +28.9%, which is 13.8 times its normal week-to-week variation over the previous three years — outside that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.0731199999999999
    status
    OBSERVED
    country
    Cyprus
    z_score
    29.711652033412136
    t0_value
    0.83275
    fuel_type
    DIESEL
    change_pct
    28.864605223656543
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    30
    series_code
    RETAIL_PRETAX_CY_DIESEL
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-03-21
    same_observation
    false
    volatility_units
    13.77135191288223
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.24036999999999986
    change_pct_from_t0
    28.864605223656543
    observation_gap_days
    5
    normal_volatility_pct
    2.0959892250415537
    change_in_volatility_units
    13.77135191288223
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.0731199999999999
    status
    OBSERVED
    country
    Cyprus
    z_score
    29.711652033412136
    t0_value
    0.83275
    fuel_type
    DIESEL
    change_pct
    28.864605223656543
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_PRETAX_CY_DIESEL
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-03-21
    same_observation
    false
    volatility_units
    13.77135191288223
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.24036999999999986
    change_pct_from_t0
    28.864605223656543
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    2.0959892250415537
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    13.77135191288223

    Template event.price_move.outside_normal v1.1 · Fingerprint 06ac11f519a0938b58da820526e5c7ce12f939a1d51e4e8d9dd97bdc78ceac97 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  9. In the 90 days after Russian invasion of Ukraine (24 February 2022), Cyprus' pre-tax diesel price moved +42.2%, which is 20.1 times its normal week-to-week variation over the previous three years — outside that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.18401
    status
    OBSERVED
    country
    Cyprus
    z_score
    41.16812846086678
    t0_value
    0.83275
    fuel_type
    DIESEL
    change_pct
    42.18072650855599
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    90
    series_code
    RETAIL_PRETAX_CY_DIESEL
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-05-23
    same_observation
    false
    volatility_units
    20.12449587269216
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.35126
    change_pct_from_t0
    42.18072650855599
    observation_gap_days
    2
    normal_volatility_pct
    2.0959892250415537
    change_in_volatility_units
    20.12449587269216
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.18401
    status
    OBSERVED
    country
    Cyprus
    z_score
    41.16812846086678
    t0_value
    0.83275
    fuel_type
    DIESEL
    change_pct
    42.18072650855599
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_PRETAX_CY_DIESEL
    series_kind
    pre-tax
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-05-23
    same_observation
    false
    volatility_units
    20.12449587269216
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.35126
    change_pct_from_t0
    42.18072650855599
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    2.0959892250415537
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    20.12449587269216

    Template event.price_move.outside_normal v1.1 · Fingerprint 29bf9de715fed1d06690d816f9f38642393c736f2c641ac920bf0d2391d477f4 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  10. In the 7 days after Russian invasion of Ukraine (24 February 2022), Cyprus' tax-inclusive diesel price moved +0.2%, which is 0.1 times its normal week-to-week variation over the previous three years — within that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.4821900000000001
    status
    OBSERVED
    country
    Cyprus
    z_score
    5.093052163654044
    t0_value
    1.47971
    fuel_type
    DIESEL
    change_pct
    0.16760040818809346
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    7
    series_code
    RETAIL_INCLTAX_CY_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-02-28
    same_observation
    false
    volatility_units
    0.1399606265243028
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.0024800000000000377
    change_pct_from_t0
    0.16760040818809346
    observation_gap_days
    3
    normal_volatility_pct
    1.1974825517017194
    change_in_volatility_units
    0.1399606265243028
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.4821900000000001
    status
    OBSERVED
    country
    Cyprus
    z_score
    5.093052163654044
    t0_value
    1.47971
    fuel_type
    DIESEL
    change_pct
    0.16760040818809346
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_INCLTAX_CY_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-02-28
    same_observation
    false
    volatility_units
    0.1399606265243028
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.0024800000000000377
    change_pct_from_t0
    0.16760040818809346
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    3
    normal_volatility_pct
    1.1974825517017194
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    0.1399606265243028

    Template event.price_move.within_normal v1.1 · Fingerprint 72cff596d817ab79f1c6dd5a49d5a727f7c974e6230e50f082eabe22ea461914 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  11. In the 30 days after Russian invasion of Ukraine (24 February 2022), Cyprus' tax-inclusive diesel price moved +13.7%, which is 11.4 times its normal week-to-week variation over the previous three years — outside that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.68245
    status
    OBSERVED
    country
    Cyprus
    z_score
    22.476943358972967
    t0_value
    1.47971
    fuel_type
    DIESEL
    change_pct
    13.701333369376426
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    30
    series_code
    RETAIL_INCLTAX_CY_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-03-21
    same_observation
    false
    volatility_units
    11.441781218361575
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.20273999999999992
    change_pct_from_t0
    13.701333369376426
    observation_gap_days
    5
    normal_volatility_pct
    1.1974825517017194
    change_in_volatility_units
    11.441781218361575
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.68245
    status
    OBSERVED
    country
    Cyprus
    z_score
    22.476943358972967
    t0_value
    1.47971
    fuel_type
    DIESEL
    change_pct
    13.701333369376426
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_INCLTAX_CY_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-03-21
    same_observation
    false
    volatility_units
    11.441781218361575
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.20273999999999992
    change_pct_from_t0
    13.701333369376426
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    1.1974825517017194
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    11.441781218361575

    Template event.price_move.outside_normal v1.1 · Fingerprint ecdc697e10346158a60ee5a5715eb562d737d8d9663fcfe5d7179fc1325f051b · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  12. In the 90 days after Russian invasion of Ukraine (24 February 2022), Cyprus' tax-inclusive diesel price moved +22.6%, which is 18.9 times its normal week-to-week variation over the previous three years — outside that range.

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.8144000000000002
    status
    OBSERVED
    country
    Cyprus
    z_score
    33.931075203686525
    t0_value
    1.47971
    fuel_type
    DIESEL
    change_pct
    22.618621216319422
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    90
    series_code
    RETAIL_INCLTAX_CY_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    variation_label
    week-to-week
    observation_date
    2022-05-23
    same_observation
    false
    volatility_units
    18.888476649765405
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.33469000000000015
    change_pct_from_t0
    22.618621216319422
    observation_gap_days
    2
    normal_volatility_pct
    1.1974825517017194
    change_in_volatility_units
    18.888476649765405
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    1.8144000000000002
    status
    OBSERVED
    country
    Cyprus
    z_score
    33.931075203686525
    t0_value
    1.47971
    fuel_type
    DIESEL
    change_pct
    22.618621216319422
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_INCLTAX_CY_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-05-23
    same_observation
    false
    volatility_units
    18.888476649765405
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.33469000000000015
    change_pct_from_t0
    22.618621216319422
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    1.1974825517017194
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    18.888476649765405

    Template event.price_move.outside_normal v1.1 · Fingerprint 3936defaff60f72f042e3062b0d4544fc6467c88e597f18a0919080d381dfcfd · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  13. Over the 4 weeks after Russian invasion of Ukraine (24 February 2022), crude costs alone would have moved Cyprus' pre-tax petrol price by +11.7 c/L (range +7.4–+16.1); it actually moved +5.9 c/L, leaving -5.9 c/L not explained by crude.

    about CyprusCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    event
    Russian invasion of Ukraine (24 February 2022)
    weeks
    4
    status
    COMPUTED
    country
    Cyprus
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    series_code
    CRUDE_ONLY_EXPECTED_CY_EURO_SUPER_95
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    offset_weeks
    4
    proxy_product
    GASOLINE
    proxy_to_date
    2022-03-21
    pass_through_k
    5
    proxy_from_date
    2022-02-18
    observation_date
    2022-03-21
    gap_eur_per_litre
    -0.058674450683923365
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-02-21
    actual_eur_per_litre
    0.05876999999999999
    expected_eur_per_litre
    0.11744445068392335
    proxy_volatility_units
    -0.11680573781220037
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -4.018000000000001
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.07438664701357191
    expected_high_eur_per_litre
    0.1605022543542752
    proxy_normal_volatility_pct
    180.79993207863203
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    event
    Russian invasion of Ukraine (24 February 2022)
    weeks
    4
    status
    COMPUTED
    country
    Cyprus
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_CY_EURO_SUPER_95
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    offset_weeks
    4
    proxy_product
    GASOLINE
    proxy_to_date
    2022-03-21
    pass_through_k
    5
    proxy_from_date
    2022-02-18
    statement_topic
    event
    observation_date
    2022-03-21
    gap_eur_per_litre
    -0.058674450683923365
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-02-21
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    0.05876999999999999
    expected_eur_per_litre
    0.11744445068392335
    proxy_volatility_units
    -0.11680573781220037
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -4.018000000000001
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    0.07438664701357191
    expected_high_eur_per_litre
    0.1605022543542752
    proxy_normal_volatility_pct
    180.79993207863203

    Template event.crude_only.computed v1.1 · Fingerprint ff39bd396f51a9838f8760f650b9e7dc327a976feef55d0ca2e80c21b31ae845 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  14. Over the 13 weeks after Russian invasion of Ukraine (24 February 2022), crude costs alone would have moved Cyprus' pre-tax petrol price by +17.3 c/L (range +6.9–+27.7); it actually moved +28.0 c/L, leaving +10.7 c/L not explained by crude.

    about CyprusCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    event
    Russian invasion of Ukraine (24 February 2022)
    weeks
    13
    status
    COMPUTED
    country
    Cyprus
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    series_code
    CRUDE_ONLY_EXPECTED_CY_EURO_SUPER_95
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    offset_weeks
    13
    proxy_product
    GASOLINE
    proxy_to_date
    2022-05-23
    pass_through_k
    5
    proxy_from_date
    2022-02-18
    observation_date
    2022-05-23
    gap_eur_per_litre
    0.10667948639283273
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-02-21
    actual_eur_per_litre
    0.27984999999999993
    expected_eur_per_litre
    0.1731705136071672
    proxy_volatility_units
    0.8092678270821386
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    27.837999999999997
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.06926375094517852
    expected_high_eur_per_litre
    0.2770772762691577
    proxy_normal_volatility_pct
    180.79993207863203
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    petrol
    event
    Russian invasion of Ukraine (24 February 2022)
    weeks
    13
    status
    COMPUTED
    country
    Cyprus
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_CY_EURO_SUPER_95
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    offset_weeks
    13
    proxy_product
    GASOLINE
    proxy_to_date
    2022-05-23
    pass_through_k
    5
    proxy_from_date
    2022-02-18
    statement_topic
    event
    observation_date
    2022-05-23
    gap_eur_per_litre
    0.10667948639283273
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-02-21
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    0.27984999999999993
    expected_eur_per_litre
    0.1731705136071672
    proxy_volatility_units
    0.8092678270821386
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    27.837999999999997
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    0.06926375094517852
    expected_high_eur_per_litre
    0.2770772762691577
    proxy_normal_volatility_pct
    180.79993207863203

    Template event.crude_only.computed v1.1 · Fingerprint 4c4da10bfd71d8933b69d61309e7891d1d906802dac01be4c1191078cc6d169d · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  15. Over the 4 weeks after Russian invasion of Ukraine (24 February 2022), crude costs alone would have moved Cyprus' pre-tax diesel price by +19.4 c/L (range +13.4–+25.3); it actually moved +24.0 c/L, leaving +4.7 c/L not explained by crude. Over the same period the US diesel crack spread, a proxy for the Atlantic product market and not a European margin, widened by 22.2 $/bbl.

    about CyprusCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    event
    Russian invasion of Ukraine (24 February 2022)
    weeks
    4
    status
    COMPUTED
    country
    Cyprus
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    series_code
    CRUDE_ONLY_EXPECTED_CY_DIESEL
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    offset_weeks
    4
    proxy_product
    DIESEL
    proxy_to_date
    2022-03-21
    pass_through_k
    6
    proxy_from_date
    2022-02-18
    observation_date
    2022-03-21
    gap_eur_per_litre
    0.04680272132505561
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-02-21
    actual_eur_per_litre
    0.24036999999999986
    expected_eur_per_litre
    0.19356727867494425
    proxy_volatility_units
    12.233577860390142
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    22.231999999999996
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.13413465199920632
    expected_high_eur_per_litre
    0.2529999053506823
    proxy_normal_volatility_pct
    8.450955055544933
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    event
    Russian invasion of Ukraine (24 February 2022)
    weeks
    4
    status
    COMPUTED
    country
    Cyprus
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_CY_DIESEL
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    offset_weeks
    4
    proxy_product
    DIESEL
    proxy_to_date
    2022-03-21
    pass_through_k
    6
    proxy_from_date
    2022-02-18
    statement_topic
    event
    observation_date
    2022-03-21
    gap_eur_per_litre
    0.04680272132505561
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-02-21
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    0.24036999999999986
    expected_eur_per_litre
    0.19356727867494425
    proxy_volatility_units
    12.233577860390142
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    22.231999999999996
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    0.13413465199920632
    expected_high_eur_per_litre
    0.2529999053506823
    proxy_normal_volatility_pct
    8.450955055544933

    Template event.crude_only.computed_with_proxy v1.1 · Fingerprint 2bf0aef5640b97ac9f380fcb897e98ff4bc5216c15a75fafefbe3dc375f4db36 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  16. Over the 13 weeks after Russian invasion of Ukraine (24 February 2022), crude costs alone would have moved Cyprus' pre-tax diesel price by +29.5 c/L (range +18.2–+40.7); it actually moved +35.1 c/L, leaving +5.6 c/L not explained by crude. Over the same period the US diesel crack spread, a proxy for the Atlantic product market and not a European margin, widened by 29.9 $/bbl.

    about CyprusCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    event
    Russian invasion of Ukraine (24 February 2022)
    weeks
    13
    status
    COMPUTED
    country
    Cyprus
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    series_code
    CRUDE_ONLY_EXPECTED_CY_DIESEL
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    offset_weeks
    13
    proxy_product
    DIESEL
    proxy_to_date
    2022-05-23
    pass_through_k
    6
    proxy_from_date
    2022-02-18
    observation_date
    2022-05-23
    gap_eur_per_litre
    0.0563350484577817
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-02-21
    actual_eur_per_litre
    0.35126
    expected_eur_per_litre
    0.2949249515422183
    proxy_volatility_units
    16.427727304969743
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    29.853999999999996
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.18243554791680777
    expected_high_eur_per_litre
    0.4074143551676289
    proxy_normal_volatility_pct
    8.450955055544933
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    fuel
    diesel
    event
    Russian invasion of Ukraine (24 February 2022)
    weeks
    13
    status
    COMPUTED
    country
    Cyprus
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_CY_DIESEL
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    offset_weeks
    13
    proxy_product
    DIESEL
    proxy_to_date
    2022-05-23
    pass_through_k
    6
    proxy_from_date
    2022-02-18
    statement_topic
    event
    observation_date
    2022-05-23
    gap_eur_per_litre
    0.0563350484577817
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-02-21
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    0.35126
    expected_eur_per_litre
    0.2949249515422183
    proxy_volatility_units
    16.427727304969743
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    29.853999999999996
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    0.18243554791680777
    expected_high_eur_per_litre
    0.4074143551676289
    proxy_normal_volatility_pct
    8.450955055544933

    Template event.crude_only.computed_with_proxy v1.1 · Fingerprint 74104af001776db0438664bd0f332309e02dc83024ec96660659c87dfbd201ff · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  17. Direct physical dependence on Hormuz-linked crude for Cyprus in 2022-02 is UNKNOWN: the source reports zero imports for this period, so there is no volume to take a share of - this is a reported zero, not missing data.

    about CyprusUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    unit
    % of imported tonnes
    period
    2022-02
    status
    NO_OBSERVATION
    country
    Cyprus
    commodity
    crude
    dimension
    DIRECT_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    value_max_pct
    null
    value_min_pct
    null
    exposure_status
    UNKNOWN
    value_point_pct
    null
    observation_date
    2022-02-01
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md §9 publishes no bands
    band_applied_to
    upper bound of the range (docs/HORMUZ_METHOD.md §3.2: a range has no meaningful midpoint)
    dependence_limited_max_pct
    10
    dependence_moderate_max_pct
    33
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    unit
    % of imported tonnes
    period
    2022-02
    status
    NO_OBSERVATION
    country
    Cyprus
    commodity
    crude
    dimension
    DIRECT_CRUDE
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    value_max_pct
    null
    value_min_pct
    null
    exposure_status
    UNKNOWN
    statement_topic
    hormuz
    value_point_pct
    null
    observation_date
    2022-02-01
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.dependence.unknown v1.1 · Fingerprint 7c1714b0aa241d236303341edc1c02c3965c8d463a51b436d2f3cc7413729372 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  18. Direct physical dependence on Hormuz-linked refined product was moderate (0%–31%) for Cyprus in 2022-02. No point estimate is published: the origins concerned export from both inside and outside the Persian Gulf and the split per period is not public.

    about CyprusCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    band
    moderate
    unit
    % of imported tonnes
    period
    2022-02
    status
    NO_OBSERVATION
    country
    Cyprus
    commodity
    refined product
    dimension
    DIRECT_PRODUCT
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    value_max_pct
    30.7910347639654
    value_min_pct
    0
    exposure_status
    PARTIAL
    value_point_pct
    null
    observation_date
    2022-02-01
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md §9 publishes no bands
    band_applied_to
    upper bound of the range (docs/HORMUZ_METHOD.md §3.2: a range has no meaningful midpoint)
    dependence_limited_max_pct
    10
    dependence_moderate_max_pct
    33
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    band
    moderate
    unit
    % of imported tonnes
    period
    2022-02
    status
    NO_OBSERVATION
    country
    Cyprus
    commodity
    refined product
    dimension
    DIRECT_PRODUCT
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    value_max_pct
    30.7910347639654
    value_min_pct
    0
    exposure_status
    PARTIAL
    statement_topic
    hormuz
    value_point_pct
    null
    observation_date
    2022-02-01
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.dependence.range v1.1 · Fingerprint 7569b2363d1819cd1e76495c3e0b60dcced2c9533175838fef35e9207e09e676 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  19. Whether Cyprus' crude supply was physically reduced in 2022-02 is UNKNOWN: only 12 month(s) of comparison data, fewer than the 6 required.

    about CyprusUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    unit
    tonnes
    month
    2022-02
    country
    Cyprus
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    partner_role
    ORIGIN
    value_tonnes
    0
    baseline_months
    12
    observation_date
    2022-02-01
    series_source_ids
    ["eurostat_nrg_ti_oilm"]
    baseline_mean_tonnes
    0
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md publishes no cut-off
    min_baseline_months
    6
    baseline_months_used
    12
    supply_reduction_pct
    -10
    supply_baseline_months
    12
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    unit
    tonnes
    month
    2022-02
    country
    Cyprus
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    partner_role
    ORIGIN
    value_tonnes
    0
    baseline_months
    12
    statement_topic
    event
    observation_date
    2022-02-01
    series_source_ids
    ["eurostat_nrg_ti_oilm"]
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    baseline_mean_tonnes
    0
    study_calculation_version
    event_study-1.0

    Template event.supply.unknown v1.1 · Fingerprint 65caa966b617e03f511f85c2f5abc5559cb3418d9b5d62506eb7baee95eb23a6 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  20. In 2022-02, Cyprus' oil stocks stood 4.9% above their trailing 12-month mean — inside the 5% either side that this site reads as in line with it, with 99.0 days of cover (as published).

    about CyprusCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    unit
    tonnes
    month
    2022-02
    status
    OBSERVED
    country
    Cyprus
    direction
    above
    siec_code
    O4000
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    holder_type
    STK_CL
    series_code
    INVENTORY_CY
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    days_of_cover
    99
    metric_status
    COMPUTED
    mom_change_pct
    -5.131282731993431
    observation_date
    2022-02-01
    series_source_ids
    ["eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm"]
    total_stock_tonnes
    641803
    days_of_cover_basis
    as published by Eurostat (nrg_stk_oem, STK_EUE_DIR); not stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    observation_gap_days
    23
    trailing_12m_mean_tonnes
    611686.0833333334
    level_vs_trailing_12m_pct
    4.923590300198917
    trailing_12m_observations
    12
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md publishes no band
    band_applied_to
    the rounded figure printed in the sentence
    days_of_cover_basis
    as published (Eurostat nrg_stk_oem, STK_EUE_DIR); never stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    trailing_window_months
    12
    level_vs_trailing_12m_pct_raw
    4.923590300198917
    level_vs_trailing_12m_pct_shown
    4.9
    inventory_material_deviation_pct
    5
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    unit
    tonnes
    month
    2022-02
    status
    OBSERVED
    country
    Cyprus
    direction
    above
    siec_code
    O4000
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    holder_type
    STK_CL
    series_code
    INVENTORY_CY
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    days_of_cover
    99
    metric_status
    COMPUTED
    mom_change_pct
    -5.131282731993431
    statement_topic
    event
    observation_date
    2022-02-01
    series_source_ids
    ["eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm"]
    total_stock_tonnes
    641803
    calculation_version
    event_statements-1.0
    days_of_cover_basis
    as published by Eurostat (nrg_stk_oem, STK_EUE_DIR); not stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    methodology_version
    1.0
    observation_gap_days
    23
    trailing_12m_mean_tonnes
    611686.0833333334
    level_vs_trailing_12m_pct
    4.923590300198917
    study_calculation_version
    event_study-1.0
    trailing_12m_observations
    12

    Template event.inventory_level.in_line v1.1 · Fingerprint aaab2d38fca8cddd216134eb66b3fa8671b7edb69aeeb0f1c232fb21d805663a · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  21. Summary of what can be checked here

    Only part of the chain can be checked for Cyprus around Russian invasion of Ukraine (24 February 2022): 4 of the 8 series the method compares are available (crude benchmark, inventories, pre-tax pump price and pump price with tax), while refined-product benchmark, refining margin, freight rates and wholesale prices are not. Any claim that rests on the missing links cannot be tested here. This page describes what each series did around the event date. It is not a finding about cause: no causal design is published for this site, and a series that moved in the same window may have moved for other reasons.

    about CyprusUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    event
    Russian invasion of Ukraine (24 February 2022)
    country
    Cyprus
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    dependence_band
    null
    dependence_range
    null
    channels_available
    ["crude benchmark","inventories","pre-tax pump price","pump price with tax"]
    supply_template_id
    event.supply.unknown
    channels_unavailable
    ["refined-product benchmark","refining margin","freight rates","wholesale prices"]
    Thresholds
    source
    v1 choice of this module; the channel list is docs/PRICE_MODEL.md §2.3
    channels_total
    8
    channels_available
    4
    verdict_partial_min_channels
    3
    verdict_assessable_min_channels
    8
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    event
    Russian invasion of Ukraine (24 February 2022)
    country
    Cyprus
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    CY
    country_name
    Cyprus
    country_slug
    cyprus
    dependence_band
    null
    statement_topic
    event
    dependence_range
    null
    channels_available
    ["crude benchmark","inventories","pre-tax pump price","pump price with tax"]
    supply_template_id
    event.supply.unknown
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    channels_unavailable
    ["refined-product benchmark","refining margin","freight rates","wholesale prices"]
    study_calculation_version
    event_study-1.0

    Template event.verdict.partial v1.1 · Fingerprint 4397ee2497fe8ab4f9316f906bc367fde479a86c16379d73fa191eae99d0643e · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  22. In the 7 days after Russian invasion of Ukraine (24 February 2022), the Brent crude benchmark moved +13.9%, which is 3.2 times its normal day-to-day variation over the previous three years — outside that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    unit
    $/BBL
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    115.36
    status
    OBSERVED
    z_score
    5.841150770454914
    t0_value
    101.29
    benchmark
    Brent crude
    change_pct
    13.890808569454036
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    7
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2022-03-03
    same_observation
    false
    volatility_units
    3.203825480890899
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    14.069999999999993
    change_pct_from_t0
    13.890808569454036
    observation_gap_days
    0
    normal_volatility_pct
    4.335694516541323
    change_in_volatility_units
    3.203825480890899
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    unit
    $/BBL
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    115.36
    status
    OBSERVED
    z_score
    5.841150770454914
    t0_value
    101.29
    benchmark
    Brent crude
    change_pct
    13.890808569454036
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2022-03-03
    same_observation
    false
    volatility_units
    3.203825480890899
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    14.069999999999993
    change_pct_from_t0
    13.890808569454036
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    4.335694516541323
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    3.203825480890899

    Template event.benchmark_move.outside_normal v1.1 · Fingerprint 499e14f143cd15685ef1480ed3fa89cd45abe5f0647c7ec6a69249dfc87c1dd1 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  23. In the 30 days after Russian invasion of Ukraine (24 February 2022), the Brent crude benchmark moved +21.1%, which is 4.9 times its normal day-to-day variation over the previous three years — outside that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    unit
    $/BBL
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    122.67
    status
    OBSERVED
    z_score
    6.996054504576924
    t0_value
    101.29
    benchmark
    Brent crude
    change_pct
    21.107710534109977
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    30
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2022-03-25
    same_observation
    false
    volatility_units
    4.868357411616733
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    21.379999999999995
    change_pct_from_t0
    21.107710534109977
    observation_gap_days
    1
    normal_volatility_pct
    4.335694516541323
    change_in_volatility_units
    4.868357411616733
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    unit
    $/BBL
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    122.67
    status
    OBSERVED
    z_score
    6.996054504576924
    t0_value
    101.29
    benchmark
    Brent crude
    change_pct
    21.107710534109977
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2022-03-25
    same_observation
    false
    volatility_units
    4.868357411616733
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    21.379999999999995
    change_pct_from_t0
    21.107710534109977
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    1
    normal_volatility_pct
    4.335694516541323
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    4.868357411616733

    Template event.benchmark_move.outside_normal v1.1 · Fingerprint 216049ee46b7aafc7c24ef4f74d592168c4ca36a76f9b7e30eb4f402126d0f04 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  24. In the 90 days after Russian invasion of Ukraine (24 February 2022), the Brent crude benchmark moved +14.9%, which is 3.4 times its normal day-to-day variation over the previous three years — outside that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    unit
    $/BBL
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    116.41
    status
    OBSERVED
    z_score
    6.007039815711837
    t0_value
    101.29
    benchmark
    Brent crude
    change_pct
    14.927436074637171
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    offset_days
    90
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2022-05-25
    same_observation
    false
    volatility_units
    3.4429169346887267
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    15.11999999999999
    change_pct_from_t0
    14.927436074637171
    observation_gap_days
    0
    normal_volatility_pct
    4.335694516541323
    change_in_volatility_units
    3.4429169346887267
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    unit
    $/BBL
    event
    Russian invasion of Ukraine (24 February 2022)
    value
    116.41
    status
    OBSERVED
    z_score
    6.007039815711837
    t0_value
    101.29
    benchmark
    Brent crude
    change_pct
    14.927436074637171
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2022-05-25
    same_observation
    false
    volatility_units
    3.4429169346887267
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    15.11999999999999
    change_pct_from_t0
    14.927436074637171
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    4.335694516541323
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    3.4429169346887267

    Template event.benchmark_move.outside_normal v1.1 · Fingerprint 3c4d928f0edacc86e86f81949df4a6221c6a157e987b0435ccf81af9f53e267c · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  25. Freight rates reaction cannot be assessed: tanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    channels
    ["freight rates"]
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    reason_code
    NO_LICENSED_FREIGHT_SOURCE
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    channels
    ["freight rates"]
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_FREIGHT_SOURCE
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint 06b89c2e9e647323c15398c394cf050a39c9a42ef3b469967cce5fff091ed96a · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  26. Refined-product benchmark reaction cannot be assessed: EU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    channels
    ["refined-product benchmark"]
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    reason_code
    NO_LICENSED_PRODUCT_BENCHMARK
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    channels
    ["refined-product benchmark"]
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_PRODUCT_BENCHMARK
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint eacf068451f42ad71340259d5f692acb03bf66b7a7d6f730ade5a819ff7d1005 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  27. Wholesale prices reaction cannot be assessed: wholesale / rack price series are proprietary with no redistribution grant.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    channels
    ["wholesale prices"]
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    reason_code
    NO_LICENSED_WHOLESALE_SERIES
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    channels
    ["wholesale prices"]
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_WHOLESALE_SERIES
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint 0a8ec24923eb853f8772aa729f8ec775267350a63bc1d8e64f27facfb62978a7 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  28. Refining margin reaction cannot be assessed: no published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-02-24T00:00:00+00:00
    channels
    ["refining margin"]
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    reason_code
    NO_REFINERY_MARGIN_SERIES
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2022-02-24T00:00:00+00:00
    channels
    ["refining margin"]
    event_name
    Russian invasion of Ukraine (24 February 2022)
    event_slug
    ru-invasion-ukraine-2022
    event_type
    WAR
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_REFINERY_MARGIN_SERIES
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint 92e561b810be016411f6a7bbc96381cc8ebec1f6df6e0ae2fd7fc342f4dc1c9f · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

What this does not show

  • It does not show that the event caused anything. No causal design is published for this site, and a series that moved in this window may have moved for other reasons.
  • A change in volatility units is not a significance test, and neither is a z-score. They measure different things and are not interchangeable.
  • Channels with no licensed or loaded source are shown as empty panels, not as flat lines. “We cannot see this” is not “this did not move”.
  • Nothing is interpolated. Where several offsets resolve to one published figure, that is what the publisher printed, and the change against the event date is zero because it is the same number.

Cyprus: supply, refineries and pump prices →

How to read the labels

  • OfficialReported directly by an official authority.
  • VerifiedReported by a third party we have verified against a primary record.
  • CalculatedComputed by us from reported inputs. The method is published on the methodology page.
  • Inferred · highNot reported. Inferred from at least two independent physical records.
  • Inferred · mediumNot reported. Inferred from strong indirect evidence, with no explicit confirmation.
  • Inferred · lowNot reported. Plausible from infrastructure or movement data only. Do not read as fact.
  • UnknownNo defensible public evidence establishes this. We are not guessing, and this is not a measurement of zero.