Middle East escalation could trigger oil price shock that fuels inflation, World Bank warns
Publishing timestamp: 2024-04-25 15:35:26
Summary
World Bank warns that oil prices could reach $102 per barrel if major conflict in Middle East disrupts supply, potentially stalling fight against global inflation. Tensions have eased but situation remains uncertain. World Bank also suggests that OPEC+ unwinding production cuts could bring relief to oil prices.
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Keywords: natural gas (mar'23), ice brent crude (apr'23), business news, markets, oil and gas, investment strategy, wti crude (mar'23), breaking news: markets,