US EditionIMF says prolonged increase in energy prices could boost inflation ...
- Across the Gulf on Thursday, Iran struck Qatar's Ras Laffan LNG facility and damaged a Saudi Red Sea refinery plus two Kuwaiti refineries.
- Following an Israeli strike on South Pars, Tehran said it struck in retaliation and vowed to target Gulf energy facilities.
- Market moves showed immediate impact as Brent crude shot up more than 10 percent to over $119 a barrel and European gas prices jumped 35 percent before settling around 70 euros per megawatt hour.
- European electricity markets face rising prices because gas largely determines power costs, and analysts warn the war is targeting energy infrastructure, increasing price pressure in coming days.
- Meanwhile analysts at EnergyScan said, "We are not yet in the worst-case scenario we described in our last monthly report, but we are getting closer," and Kristy Kramer noted a quick recovery now appears unlikely.
44 Articles
44 Articles
IMF: Prolonged high gas prices could increase inflation
The International Monetary Fund (IMF) warned Thursday that rising energy prices caused by the ongoing conflict with Iran could lead to higher global inflation if prolonged, but it said no nation has yet reached out for emergency financial assistance. IMF communications director Julie Kozack told reporters that the organization was closely monitoring how oil and…
IMF says prolonged increase in energy prices could boost inflation, lower growth
The IMF is closely monitoring the Iran war's impact on global energy production and inflation, warning of potential economic slowdown. A sustained 10% oil price increase could raise inflation by 40 basis points and reduce global output. The IMF will update its economic outlook in April to reflect these disruptions.
The institution has not yet received formal requests to grant emergency loans, but stated that it is ready to assist member countries as needed.
InsideNoVA.com
IMF raises concern over global inflation, output over Iran war
The International Monetary Fund said on Thursday it was monitoring the impacts of the war in Iran on global inflation and output, but that no countries had so far approached it for emergency assistance related to the conflict.
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