World Bank Warns Middle East Conflict Could Lead To $150 A Barrel

 

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.  

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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