Statsguru: How Russia-Ukraine conflict is impacting global markets

Financial markets, too, have felt ripples of the event

Russia’s military action in Ukraine has had a significant impact on global markets. Commodity prices have risen, bond yields are moving up and equity markets have seen a significant decline.

The Bloomberg Commodity Index touched its highest level in over seven years (see chart 1). Multiple commodities saw a spike in their prices over fears of transport and supply disruptions. The region is a key exporter of oil and gas, besides agricultural commodities and metals.

The most visible impact was on crude oil prices, which crossed over $105 per barrel before settling lower. Natural gas prices also went up. Russia