Oil prices could reach ‘uncharted waters’ if the Israel-Hamas war escalates, the World Bank says
2023-10-31 09:35:26 source：The Associated Press
October 30, 2023
WASHINGTON (AP) — The World Bank reported on Monday that oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas widens, which could result in increased food prices worldwide.
The World Bank’s Commodity Markets Outlook found that while the effects on oil prices should be limited if the conflict doesn’t expand, the outlook “would darken quickly if the conflict were to escalate.”
The attack on Israel by the militant organization Hamas and the ensuing Israel military operation against Hamas have raised fears of a wider Mideast conflict.
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https://apnews.com/article/hamas-israel-gaza-war-oil-imf-72152d1d791eed532c2807902297c0fa