NEW DELHI: The Russia-Ukraine conflict led to a spurt in crude oil prices. This has fuelled fears of rise in input costs, further stroking inflationary pressures.
A report by State Bank of India (SBI) economists said that irrespective of military objectives, the impact of the conflict will be felt across commodities and asset classes.
Russia’s invasion of Ukraine on Thursday caused crude oil prices to surge above $100 a barrel for the first time since 2014, with Brent touching $105, before paring gains by the close of trade.
The assault was the biggest attack on a European state since World War II, prompting tens of thousands of people to flee their homes.
The report highlighted historic
