The World Bank has warned that an escalation of the conflict in Gaza and its spread to other parts of West Asia could lead to a significant increase in commodity prices, especially oil. The report suggests that oil prices could rise by as much as 75% if global supply decreased by 6-8%. This could also impact food supply and increase the prices of industrial metals and gold. However, the report also highlights that recent conflicts in the region have resulted in less severe and short-lived price spikes due to the availability of supply from other sources.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UaD7Ro2
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