The World Bank fears that the conflict between Israel and Hamas could escalate into a “wider conflict in the Middle East.”
Oil prices may rise as military operations in the Middle East escalate against the backdrop of Israel’s war with the Hamas group. “Black gold” can increase in price by 75%. This is stated in the forecast of the World Bank, reports The New York Times.
The World Bank describes this “market picture” with the potential escalation of military conflict between the Israeli Defense Forces and Hamas militants, which could escalate into a “wide conflict in the Middle East.”
The possibility of a global energy shock following the Hamas attack on Israel on October 7 has become “an urgent issue for economists and policymakers who have spent the past year trying to combat inflation.”
Let’s recall that India refused to pay for crude oil imports in yuan at the request of Russian suppliers.
Source: korrespondent
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