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BBC: World Bank warns oil prices could reach $150 a barrel
Oil prices could rise to more than $150 a barrel if the conflict in the Middle East escalates, according to the World Bank.
A drawn-out war in the region could drive big rises in energy and food prices, just a year after prices spiked due to the Russian invasion of Ukraine.
For now oil prices remain steady at around $90 a barrel and are predicted to fall.
However, the Bank warns that this outlook could quickly reverse.
Under its worst case scenario, the World Bank said a situation could develop that was comparable with the oil crisis of the 1970s, which would could push oil prices up to between $140 and $157 a barrel.
Read more ….
WNU Editor: The World Bank report is here …. Conflict in Middle East Could Bring ‘Dual Shock’ to Global Commodity Markets (World Bank).
World Bank Warns Middle East Conflict Could Lead To $150 A Barrel
Oil prices could reach ‘uncharted waters’ if the Israel-Hamas war escalates, the World Bank says — AP
Oil prices could hit $150 if Israel-Hamas conflict intensifies, World Bank — Financial Times
World Bank warns Middle East conflict could lead to spike in fuel prices — UPI
World Bank warns conflict in Middle East could deliver a dual shock to commodity markets — CNN