The World Bank has warned that oil prices could reach unprecedented levels if the violence between Israel and Hamas escalates, leading to increased food prices globally. The bank's report highlights the potential impact on oil prices in different scenarios of the conflict.
United States Secretary of the Treasury Janet Yellen speaks at the Atlantic Council Global Citizen Awards, Wednesday, Sept. 20, 2023, in New York. The World Bank reported Monday that oil prices could be pushed into "uncharted waters" if the violence between Israel and Hamas intensifies, which could result in increased food prices worldwide.
But during a "medium disruption" -- equivalent to the disruptions experienced during the Iraq war -- the global oil supply would decline by 3 million to 5 million barrels per day, driving oil prices up possibly by 35%. Ayhan Kose, the World Bank's deputy chief economist, said higher oil prices will inevitably result in higher food prices.
At a Bloomberg event on Thursday, Treasury Secretary Janet Yellen said the Biden administration was monitoring the economic consequences of Israel's war against Hamas carefully. Carbon price could be 'off the table' by the next election after rollback for heating oil: Liberal strategist
World Bank Oil Prices Israel Hamas Conflict Food Prices Global Supply Disruption
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank saysWASHINGTON (AP) — The World Bank reported Monday that oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies...
Lire la suite »
Israel Expands Ground Operation in Gaza, Targets Hamas TunnelsIsrael launches a ground operation in Gaza, targeting Hamas tunnels and conducting massive airstrikes. The bombardment disrupts communication and isolates the 2.3 million people in Gaza.
Lire la suite »
Hamas accuses Israel of stalling hostage agreementHamas claims that Israel has stalled on reaching an agreement over the release of hostages held by the Palestinian militant faction. The group's armed wing spokesperson, Abu Ubaida, states that all hostages will only be released if Israel frees all Palestinian prisoners.
Lire la suite »
Hamas accuses Israel of stalling hostage agreementHamas claims that Israel has stalled on reaching an agreement over the release of hostages held by the Palestinian militant faction. The group's armed wing spokesperson, Abu Ubaida, states that all hostages will only be released if Israel frees all Palestinian prisoners.
Lire la suite »
Israel Announces Ground Invasion of Gaza Strip in Second Stage of War Against HamasIsrael escalates operations in Gaza with troops, tanks, and artillery, warning of a long and difficult ground invasion. Risks of a broader Middle East conflict rise as internet and communications are cut off in Gaza. Prime Minister Benjamin Netanyahu vows to destroy Hamas and guarantee Israel's existence. Defense Minister Yoav Gallant confirms Israeli troops operating above ground and underground. The operation is expected to involve fierce urban fighting and cause extensive casualties.
Lire la suite »
Israel Launches Ground Invasion in Gaza, Intensifying Attacks on HamasIsrael has announced a second stage in the war against Hamas, sending ground forces into Gaza and expanding attacks from the ground, air, and sea. The bombardment has cut off communication in Gaza, allowing Israel to control the narrative. Tank columns and warplanes have targeted Hamas tunnels and bunkers. The escalation puts pressure on Israel's government to secure the release of hostages seized in a recent Hamas attack.
Lire la suite »