The World Bank has projected a significant increase in global energy prices by up to 24 percent in 2026 due to ongoing tensions in the Middle East, raising concerns about additional pressure on the global economy.
According to the World Bank’s latest report, even if the current tensions in the region ease by May, energy prices are still expected to remain elevated, while any further escalation or disruption in supply could push prices even higher.
The report highlights that attacks on energy infrastructure and disruptions to shipping through the Strait of Hormuz have severely impacted global oil supply, with noticeable effects already being seen in international markets.
The World Bank estimates that the average price of Brent crude oil could reach 86 dollars per barrel in 2026, compared to 69 dollars per barrel in 2025, indicating a substantial increase.
It further warns that if key oil and gas facilities suffer additional damage and trade routes fail to fully recover, Brent oil prices could rise further, posing serious challenges to the global economy.
The World Bank also noted that shipping through the Strait of Hormuz could gradually return to near pre-conflict levels by October, depending on the stability of the region.
