The World Bank has issued a warning that oil prices could reach unprecedented levels, exceeding $150 per barrel, if the Israel-Hamas conflict escalates into a large-scale Middle East-wide conflict. This assessment comes as the first major evaluation of the economic consequences of an expanded war beyond Gaza’s borders. Such a scenario, similar to the 1973 Arab oil embargo, could result in oil supply shortages and drive the price of crude oil from approximately $90 to a range between $140 and $157 per barrel. The World Bank highlights that this scenario could also lead to increased global food prices, affecting millions. Entity 25-Oct 01-Nov Unit % 2024 Forecast Forecast Green H2 Germany 8.058 8.148 €/kg 1.12% €4.06/kg Link Green…