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
9 comments:
Isn't that a feature - not a bug? To fill the coffers of Iran and Russia with $150 Bbl oil? It'll will go a long way to hobble the West and enrich the new "Axis Of Evil". Which somehow seems to be the point.
Of course it's a feature. We die so they get rich. I'm so tired of these demons. How about we hang them finally and live in peace before they kill us all in WW3
And keep in mind.. in just a few years if you complain about their wars and mass murder, your car might crash. They listen in everywhere, steal and murder from everyone. That's why I call them ghouls, because they're not human
we are screwed
This is 1984. 5:46 works for one of the 3 cliques of ghouls.
غُول (ghūl) is here to disparage and delegitimize the West and is silent about Putin and his allies and system.
غُول needs to be droned.
Put them all on Catalina or some other island and guard that island.
Whoah that second cup really worked for you--probably extra espresso shots amirite?
Gee, oil was pretty cheap before we sanctioned Russia and alienated Opec. Hmmm.....and made new oil production legally and financially risky or impossible in North America.
Hey Gavin--we need to drill in the waves, Kiddo! You know what I'm talking about. There will be oil.
The Biden admin has its fingers crossed. Great way for force people into lemon EVs.
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