Oil prices jump on escalating tensions in the Middle East
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Middle East escalation could trigger oil price shock that fuels inflation, World Bank warns
Oil prices could rise to $102 per barrel if a major conflict in the Middle East breaks out involving one or more oil producers, according to the World Bank.
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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 updatesA 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...
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Europe down in premarket amid Middle East tensions
Equities in Europe traded lower in the premarket on Friday as investors assessed the effects of Israel's reported retaliatory drone attack on Iran. They also anticipated the newest reports on Germany'