World Bank Forecasts Oil Prices Could Reach $95-$115 Per Barrel Amid US-Israeli Conflict With Iran
Bank warns of unprecedented energy crisis as Middle East disruptions threaten global commodity markets
WASHINGTON, April 28. /TASS/. The World Bank forecasts that oil prices could reach $95-$115 per barrel this year, according to its latest report on commodity market outlooks, which highlights the negative economic consequences of the US and Israeli war with Iran. According to the report, if disruptions in the Middle East prove more prolonged or severe than anticipated, Brent crude prices in 2026 could range from $95 to $115 per barrel. Prices for other commodities would also significantly exceed forecasts. In addition, prices for ferrous and non-ferrous metals may rise more than expected amid inflexible supply and resilient demand, the bank's experts noted. As IMF Chief Economist Pierre-Olivier Gourinchas acknowledged in mid-April, the US-Israeli military operation against Iran could trigger an energy crisis of an unprecedented scale.
