Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates,: World Bank

The World Bank has warned that oil prices could reach unprecedented levels if the violence between Israel and Hamas escalates. The conflict has raised concerns about a wider conflict in the Middle East, which could lead to disruptions in the global oil supply. The World Bank's Commodity Markets Outlook outlines three scenarios for the impact on oil prices, with prices potentially increasing by 35% to 75% in the event of a medium or large disruption.

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