World Bank forecasts 24% rise in energy prices in 2026, citing Middle East conflict
AI summaryThe World Bank's latest Commodity Markets Outlook projects a 24% surge in energy prices this year, the largest since 2022, driven by Middle East conflict and Strait of Hormuz disruptions. Commodity prices overall are set to rise 16%, with significant increases in fertilizer and metals, and warnings of food insecurity and inflation in developing economies.