Of course, war usually has a profound and lasting effect on any economy because it affects the overall economic stability of that country. Nothing will function well because of the impact the war has caused. war brings about inflation, trade disruption, currency devaluation, an increase in government spending, and lots of infrastructural and human damage, so many refugees and IDP camps to mention a few.
Oil plays a significant role in modern warfare due to its role in energy supply, logistics, and so on but there are other resources like information, food and water, mineral and material resources, economic and financial resources that also help in determining the outcome of a conflict.
You are right, the impact of war involves various aspects, including economic, social and environmental. Resources such as oil, information and food do play a key role in determining the success or failure of a conflict. Apart from that, war also leaves scars that are difficult to recover from, both in terms of physical damage and psychological impacts on the people involved.