The World Bank’s April Commodity Markets Outlook, released on April 28, forecasts that global energy prices will rise 24% in 2026, even if supply disruptions caused by Middle East conflicts end by May, according to CCTV International News.
The report projects Brent crude oil futures will average $86 per barrel in 2026, representing a significant increase from the previous year. Overall commodity prices are expected to rise 16% in 2026, the outlook indicates.
Economic Impact
The World Bank warns that the projected commodity price increases will push up inflation and hinder global economic growth, according to the report.
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