New Delhi, March 26 -- Saudi Arabia's Finance Minister Mohammed al-Jadaan warned of a significant global impact of the war in the Middle East, suggesting there's more than what meets the eye.

Al-Jadaan was quoted by Al Arabiya English as saying that while oil has dominated media coverage, it is refined products - including fertilisers, steel and aluminum - that have been most affected due to the ongoing war.

"You will need to mute a lot of the media noise for you to really understand what's happening on the ground," Al-Jadaan reportedly said while speaking at the FII Priority conference in Miami. The summit is hosted by the Future Investment Initiative Institute.

He said the risks have not yet been priced into the markets.

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