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CHECK INFLATION AS GAZA WAR PUSHES UP CRUDE OIL PRICES
The Morning Standard
|October 11, 2023
THE Ukraine War, into its second year now, has burdened the world with energy and food shortages, and volatile oil prices. But suddenly there is a new war on and we have a new crisis to grapple with.
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The flashpoint is the Gaza Strip for now, but the fighting may spread. Even as the Israelis and Palestinians come to terms with the horrific death toll, the reverberations on the world economy can be felt loud and clear. Crude oil prices surged sharply on Monday as fighting intensified in and around Gaza. Brent crude rose 3.44 percent to $87.49 a barrel, while US West Texas intermediate crude rallied 3.85 percent to $85.98. The upward trajectory for oil, which had eased by $5-6 a barrel in recent days, is likely to continue as there is perception of a shortage looming.
Cette histoire est tirée de l'édition October 11, 2023 de The Morning Standard.
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