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World Bank: Middle East War to Trigger Biggest Energy Shock in Four Years
22 Articles
22 Articles
The war in the Middle East will push energy costs this year to their highest level since Russia's aggression in Ukraine, while also reducing access to fertilizer, the World Bank has warned.
Washington, United States. The prices of raw materials such as oil, fertilizer, agricultural products or metals have risen by an average of 16% this year, the World Bank (WB) estimated Tuesday when pointing to the war in the Middle East and other factors as responsible. “The war strikes the world economy in successive waves,” stresses the Chief Economist of the World Bank, Indermit Gill, after the publication of the institution’s report on the r…
Cameroon Concord News
Cameroon Intelligence ReportMiddle East war to spark biggest energy price surge in 4 years
Energy prices are projected to surge by 24% this year to their highest level since Russia’s invasion of Ukraine in 2022, as the war in the Middle East sends a severe shock through global commodity markets, according to the World Bank Group’s latest Commodity Markets Outlook. Overall commodity prices are forecast to rise 16% in 2026, driven by soaring energy and fertilizer prices and record-high prices for several key metals. The shock will have…
War-driven energy shock to fuel inflation and slow growth globally, World Bank warns
Energy prices are projected to surge by 24% this year to their highest level since Russia’s invasion of Ukraine in 2022, as the war in the Middle East sends a severe shock through global commodity markets, according to the World Bank Group’s latest Commodity Markets Outlook. Overall commodity prices are forecast to rise 16% in […] The post War-driven energy shock to fuel inflation and slow growth globally, World Bank warns appeared first on Busi…
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