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Energy prices to climb 32% this year as global shocks mount, World Bank says

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The National
“Energy prices to climb 32% this year as global shocks mount, World Bank says”

Energy prices are set to rise by 32 per cent this year due to conflicts in the Middle East and Ukraine, driving up a broad set of commodity prices and threatening to worsen inflation, the World Bank said on Wednesday. Global commodity prices are forecast to climb 23 per cent in 2026 due to rising energy prices and disrupted grain shipments in the Black Sea, the World Bank said in its latest Commodity Markets Outlook. Brent crude is forecast to increase from an average of $69 per barrel in 2025…

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