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Oil price could exceed $100 a barrel if Middle East conflict worsens, World Bank warns
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.
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The OECD said the global economy could suffer a significant setback if an escalation of conflict in the Middle East were to push oil prices sharply higher.
The OECD said the global economy could suffer a significant setback if an escalation of conflict in the Middle East were to push oil prices sharply higher.The Wall Street Journal - World -
Oil prices log worst week since February as concerns over Middle East supply risks fade
Oil futures finished lower Friday — with easing concerns over potential supply disruptions in the Middle East, strong U.S. production and signs of slowing demand prompting prices to register their largest weekly percentage loss since early February.MarketWatch - Business -
Middle East crisis live: Rafah operation could result in ‘slaughter’, UN official says
UN humanitarian office spokesman says hundreds of thousands of lives could be at risk and there would be a huge impact on aid operations. Daniel Hurst is Guardian Australia’s foreign affairs and defence correspondent.. The Australian government ...The Guardian - World -
Lessons from history for the modern Middle East
The ‘Damascus Events’ of 1860 are a warning of how societies can collapse into violence — and also an example of how they can recoverFinancial Times - Business -
Weaker-Than-Expected Payrolls Push Down Dollar
The dollar fell in a week when the Fed was perceived as not too hawkish—after Chair Powell kept a rate hike off the table— and payrolls surprised to the downside, for a change.The Wall Street Journal - World -
U.S. Shuffles Military Assets in Middle East After Gulf Pushback
Washington is shifting some warplanes to Qatar to allay concerns among Gulf powers about riling Iran and its proxies.The Wall Street Journal - World -
Middle East Crisis: Trade and Diplomatic Moves Deepen Israel’s Isolation
Turkey’s decision to suspend trade with Israel came after some countries downgraded or cut ties. But key allies, including the U.S., remain supportive.The New York Times - World - Israel -
Middle East crisis live: Hamas delegation arrives in Cairo for Gaza ceasefire talks
An unnamed Palestinian official familiar with the mediation efforts expressed cautious optimism to the Reuters news agency. Israeli warplanes have attacked targets in Khan Younis, southern Gaza, after a rocket was launched towards the Ein ...The Guardian - World -
Baltimore Bridge Replacement Price Tag Could Hit $1.9 Billion
Maryland estimates a new span over the harbor could cost $1.7 billion to $1.9 billion, and be finished by 2028.Inc. - Business -
Kenya orders flood evacuations as it warns dams could spill
Residents near 178 bodies of water have been told to leave as flooding is set to worsen.BBC News - Top stories
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