Bank of England issues oil price shock warning ...News

Russia Today - Economy
Bank of England issues oil price shock warning
source : Russia Today ( News ) () 75
Global prices for crude have surged 3% on concerns about disruption of supplies from the Middle East The escalating conflict between Iran and Israel could leave the global economy vulnerable to a 1970s-style energy shock, Bank of England Governor Andrew Bailey said on Thursday, in an interview with the Guardian. The warning comes shortly after Israel’s invasion of southern Lebanon and Iran’s subsequent launch of ballistic missiles at Israel. The prospect of an all-out regional war in the Middle East immediately sent oil prices surging as much as 3%. Brent futures for December delivery was up 1.91% at $75.31 per ba

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