How high could oil prices go in worst-case war scenario?
Friday, 20 October 2023 War in the Middle East has the potential to cause oil prices to surge to $140 a barrel, leading to a global recession, warns Ana Boata, head of economic research at Allianz Trade. She predicts a 20% chance of hostilities between Israel and Hamas escalating into a broader regional conflict that disrupts crude supplies. Such a scenario would result in higher oil prices, slower global growth. Global growth as a whole would slow to 2% — close to the threshold that signals contraction.
Oil prices fell over $1 as diplomatic efforts eased Middle East tensions. Brent crude dropped to $91.49, WTI to $87.26. Concerns of supply disruption waned as Israel paused a Gaza incursion. Aid reached Gaza, but an Arab summit failed consensus. US suspended Venezuela sanctions, and global leaders...
US-China , Trade War Escalates, , Potentially Driving Up EV Prices.
Prices for electric vehicles (EVs) in the United States may surge higher as a result of China's new export controls
on graphite, an..
Credit: Wibbitz Top Stories Duration: 01:31Published
United Airlines, Changes Its Boarding Process.
'The Independent' reports that United Airlines
is making a huge change to how it boards
passengers in an attempt to speed up the process.
'The..
Credit: Wibbitz Top Stories Duration: 01:31Published
Shipping Companies Face, US Sanctions for Violating , Russian Oil Price Cap.
On October 12, the United States Treasury Department
announced that it has approved sanctions on two
companies that..
Credit: Wibbitz Top Stories Duration: 01:30Published
The European Central Bank (ECB) has left interest rates unchanged for the first time in over a year amidst concerns over the Israel-Hamas war and the weakening... IndiaTimes
Friday, 20 October 2023
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