Oil industry looks to world without Russian crude

As oil prices surge to levels not seen since before the 2008 financial crisis, the energy industry is asking a previously unthinkable question: How will it cope if it has to give up its oil? Russia?

Crude oil prices rose briefly to nearly $140 a barrel, grain prices soared and industrial metals rose on Monday as the war in Ukraine and the Western response threatened to affect supplies. underpins much of the global economy. This increase builds on weeks of rising prices for raw materials and is likely to add to inflationary pressures around the world.