Implications of Ongoing Ukraine-Russia War on Global EPDM Rubber
Russian invasion of Ukraine continues in its 5 th day amid diplomatic talks between the two countries in Belarus. Russian invasion has been highly condemned and criticized by the West while East opted for peaceful negotiations between the two countries. West has been severe in its reprisals and sanctions have been imposed in order to isolate Russia from the financial systems. Consequently, Russia has been ousted from SWIFT payment system. Impact of Russia-Ukraine war on oil and Gas has been more than evident where ICE Brent was trading in excess of USD 105 per barrel while WTI transverse USD 100 per barrel. Repercussions of Russia-Ukraine war are likely to appear on global convertors’ margins, as crude value has already started hampering their margins. However, key players in Asia and Middle East including ONGC and SABIC shall reap some short-term benefits post steep escalation in price of global crude oil value. The strong bullish rally of crude oil is likely to result in robust pr...