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World Bank: energy prices to climb 32% this year
The World Bank said energy prices will rise 32% this year after global shocks. UBS raised its Brent forecast to $110 by year-end.
Why it matters
Higher energy costs raise bills and inflation worldwide.
Background
Disruption in the Strait of Hormuz has cut Gulf oil flows.
Sources
- The National ↗Oct 28, 11:48 AM ET
- OilPrice ↗Oct 28, 1:30 PM ET
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