Brent Crude Oil prices hit $100 per barrel

Amid the growing tensions between Russia and Ukraine, Brent Crude Oil prices have shot up to $100 per barrel. This is the highest crude oil price ever since 2014. If war broke out between the two nations, not only the world will see military actions but shots will be called also on the economic front. The Geopolitical situation of the region and the world will completely change. Russia, being one of the top producers of crude oil can disrupt the global supply of crude oil. On the other hand members of NATO have warned to impose economic sanctions on Russia. India also will not remain unaffected as it imports 80% of Oil from foreign countries and it will seriously affect the Indian economy. According to a recent report, fuel prices in India are expected to sharply increase after the elections in five Indian states.