World Bank warns oil price could soar to record $150 a barrel

Middle East fighting could usher in oil prices over $US150 a barrel, World Bank warns

Energy analysts grow increasingly nervous about unrest in the Middle East with the World Bank warning that a spillover of hostilities in the region could send oil prices to record highs.

Oil could soar to record high of $150 if Israel-Hamas war escalates further, World Bank says

Record high oil prices could be on the horizon in the event of an expansion of the ongoing Israel-Hamas war, the World Bank cautioned.

Oil prices could reach 'uncharted waters'

The World Bank has reported that oil prices could be pushed into "uncharted waters" if the violence between Israel and Hamas widens, which could result in increased food prices worldwide.The World Bank's Commodity Markets Outlook found that while the effects on oil prices should be limited if the conflict doesn't expand, the outlook "would darken quickly if the conflict were to escalate".The attack on Israel by the militant organisation Hamas an…

Oil Prices Could Reach 'Uncharted Waters' if Israel-Hamas War Escalates, World Bank Says

The World Bank reported on Monday that oil prices could be pushed into "uncharted waters" if the violence between Israel and Hamas widens, which could result in increased food prices worldwide.  The World Bank's Commodity Markets Outlook found that while the effects on oil prices should be limited if the conflict doesn't expand, the outlook "would darken quickly if the conflict were to escalate."  The attack on Israel by the militant organizatio…

World Bank warns oil prices could reach $150 a barrel

A prolonged conflict in the Middle East would lead to much higher energy prices, the global institution predicts

According to the World Bank's Commodity Market Outlook report, the outlook “would quickly darken if the conflict worsens.”