US EditionWorld Bank: Middle East War to Trigger Biggest Energy Shock in Four Years
23 Articles
23 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…
Global energy shock deepens as Middle East war drives prices higher
The escalating conflict in the Middle East is rapidly reshaping the global economic landscape, with energy markets at the center of the disruption. According to the World Bank, the world is now experiencing what could become the largest energy supply shock in modern history. The consequences are already visible: surging fuel prices, rising inflation, and mounting pressure on both advanced and developing economies. At the heart of the crisis lies…
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…
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