The evolving situation in Ukraine has many commercial real estate investors wondering what the impact of the Russian invasion may have on markets as oil and natural gas prices surge. 

"The situation is very fluid, so the prospective impact on real estate investments could continue to evolve each week," says John Chang, senior vice president and director of research services at Marcus & Millichap, in a new video analysis.  He notes that the US imports less than 10 percent of its oil from Russia, and that US oil companies are already putting plans in motion to boost production and drilling operations in Texas and other parts of the country to backfill that deficit.  However, Chang says it will take about a year.

In the interim, the US will tap into strategic oil reserves, and announced plans to unlock about 30 million barrels, or 5% of the total US strategic reserve.