Russian and Ukraine conflict effect the crude oil market and financial markets are examined from the perspectives of the countries that import and export crude oil.

Abstract

This essay examines how the conflict between Russia and Ukraine has affected the price of crude oil and the stock markets of both importing and exporting nations. We use a multi-fractal detrended fluctuation analysis (MF-DFA) to look at how well the crude oil market performed both before and after the conflict started. Additionally, using the technique of multi-fractal detrended cross-correlation analysis, we evaluate the cross correlations between the crude oil market and stock markets in the exporting and importing nations before and after the conflict (MF-DCCA). We conclude that the efficiency of the crude oil market has been lower after the Russia-Ukraine conflict than previously by measuring the generalized Hurst exponents, mass exponents, and multi-fractal spectrums.

Keyword- Oil price, war conflict, financial market and countries economic growth.