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Middle East tensions may raise oil prices, impacting inflation

The Guardian — April 25, 2024, 04:00 PM UTC

Summary: The World Bank warns that Middle East tensions could push oil prices above $100 a barrel, reversing global inflation trends. Brent crude is at $87, with potential to reach $92 or higher. A major conflict could raise global inflation by nearly one percentage point. Commodity prices fell 40% from mid-2022 to mid-2023, impacting global inflation. Green technology investments are driving up key metal prices.

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Article metrics
Significance5.5
Scale8.0
Magnitude7.0
Potential7.5
Novelty6.0
Actionability4.0
Immediacy8.5
Positivity3.0
Credibility9.0

Timeline:

  1. [3.0]
    Oil near 7-week low at $83/bbl after US Fed decision (Mint)
    4d
    Summary:Source
  2. [2.6]
    WTI rises above $79 after recent sell-off (CNBC)
    4d
    Summary:Source
  3. [3.1]
    Oil prices drop on rising U.S. inventories and ceasefire hopes (CNBC)
    5d
    Summary:Source
  4. [3.1]
    Oil prices drop 1% to $87/bbl on US output, ceasefire talks (Mint)
    6d
    Summary:Source
  5. [3.1]
    Oil prices dip on Israel-Gaza truce talks, Fed policy review (CNBC)
    6d
    Summary:Source
  6. [3.1]
    Oil prices fall on Israel-Hamas peace talks, Fed rate cut doubts (Mint)
    7d
    Summary:Source
  7. [3.8]
    Oil rises on Middle East tensions, US inflation data (Mint)
    9d
    Summary:Source
  8. [4.2]
    Oil prices rose on 2023-12-13 due to various factors (CNBC)
    10d
    Summary:Source
  9. [2.6]
    U.S. crude oil prices drop below $83/barrel on 2% increase (CNBC)
    12d
    Summary:Source
  10. [2.7]
    U.S. crude oil rises to nearly $83/barrel on 2024-04-23 (CNBC)
    13d
    Summary:Source
  11. [3.0]
    Oil prices drop in Asia on market factors (CNBC)
    14d
    Summary:Source
  12. [5.2]
    Iran-Israel conflict keeps oil prices high, inflation risks loom (Moneycontrol)
    15d

    ScoresSource
  13. [3.8]
    Oil prices fell 3% despite Israel-Iran tensions (CNBC)
    16d
    Summary:Source
  14. [3.9]
    Oil prices spiked, then dropped after Iran explosions (CNN)
    17d
    Summary:Source
  15. [4.9]
    Iran activated air defense systems amid tensions with Israel (Financial Times)
    17d
    Summary:Source
  16. [5.1]
    Oil prices spike on Iran explosions, geopolitical tensions, and sanctions (Moneycontrol)
    17d

    ScoresSource
  17. [5.2]
    Oil prices surged 3% due to Middle East tensions (CNBC)
    17d

    ScoresSource