The conflict in eastern Europe comes with prices already elevated owing to tight supplies and a strong recovery in global demand.
HONG KONG: Crude surged past $113 a barrel on Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery.
Russian President Vladimir Putin’s invasion of his neighbour has sent world markets into a spiral over the past week, further fraying nerves on trading floors caused by runaway inflation and tighter central bank monetary policies.
The crisis has seen numerous countries hammer Moscow with a series of wide-ranging sanctions that have isolated Russia and threaten to crash its economy.
The measures have injected a huge amount of uncertainty into markets with supplies of crucial…
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