Increase in cost of crude could drive inflation up and force central banks to keep interest rates high
• Business live – latest updates
A serious escalation of tensions in the Middle East would push the price of oil above $100 (£80) a barrel and reverse the recent downward trend in global inflation, the World Bank has said.
The Washington-based institution said the recent fall in commodity prices had been levelling off even before the recent missile strikes by Iran and Israel – making interest rate decisions for central banks tougher.
About Author
More Stories
How could Trump’s second term affect DEI initiatives in the US?
Americans stocking up on foreign goods before Trump tariffs: ‘a sense of urgency’
Ex-McKinsey partner pleads guilty to destroying records on opioids