In the event of an escalation of hostilities in the Middle East amid Israel's war with the Hamas group, oil prices are likely to rise significantly, the World Bank predicts. This was reported by The New York Times.
According to World Bank experts, prices for "black gold" could rise by 75%.
The World Bank describes this "market picture" in the context of a potential major escalation of the military conflict between the Israeli Defense Forces and Hamas militants, which could escalate into a "wider conflict in the Middle East."
The publication also notes that the possibility of a global energy shock after the Hamas attack on Israel on October 7 has become "a pressing issue for economists and policymakers who have been trying to fight inflation for the past year."
The World Bank predicts a sharp rise in oil prices due to the escalation of the war in Israel
- Economics
- 30 October 2023 -16:20
-
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The World Bank predicts a sharp rise in oil prices due to the escalation of the war in Israel
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In the event of an escalation of hostilities in the Middle East amid Israel's war with the Hamas group, oil prices are likely to rise significantly, the World Bank predicts. This was reported by The New York Times.
According to World Bank experts, prices for "black gold" could rise by 75%.
The World Bank describes this "market picture" in the context of a potential major escalation of the military conflict between the Israeli Defense Forces and Hamas militants, which could escalate into a "wider conflict in the Middle East."
The publication also notes that the possibility of a global energy shock after the Hamas attack on Israel on October 7 has become "a pressing issue for economists and policymakers who have been trying to fight inflation for the past year."