"Energy supplies made uncertain by war" - Warning from the heads of the IMF, World Bank, WTO
The heads of the International Energy Agency, the International Monetary Fund, the World Bank and the World Trade Organization warned that the war in the Middle East was straining global energy supplies and hitting vulnerable economies harder.
The war in Iran has disrupted trade, shaken financial markets and raised concerns about global energy supplies, particularly through the Strait of Hormuz, a key route for oil and gas shipments.
Global institutions said the world economy remained stable, but the conflict was disproportionately affecting the poorest countries through higher fuel and fertilizer prices, increased insecurity and risks to jobs.
US President Donald Trump has said he will decide on a possible deal with Iran to extend their ceasefire, which would have to include opening the waterway and dismantling Tehran's capacity to produce nuclear weapons.
"If shipping flows do not return to normal, the continued rapid depletion of global oil inventories ahead of peak summer demand for oil in the Northern Hemisphere would pose increasing risks to fuel security, market conditions and broader economic sustainability," the institutions said.
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