Oil and gas prices are forecasted to spike further as the Russia-Ukraine crisis escalates, but the impact on energy may not be the only ramification.
From wheat to barley, and copper to nickel, analysts say supply chains are set to be disrupted as the crisis takes a turn for the worse.
Ukraine is considered the “breadbasket of Europe,” and an invasion would result in the food supply chain getting “hit hard,” said Alan Holland, CEO and founder at sourcing technology company Keelvar. Russia and Ukraine are also big suppliers of metals and other commodities, analysts said.
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