The World Bank has forecast that oil prices could rise to between $95 and $115 per barrel this year, according to its latest report on commodity market outlooks, which emphasizes the negative economic consequences of the US and Israeli war with Iran.

According to the document, if disruptions in the Middle East turn out to be more prolonged or more severe than expected, Brent crude prices in 2026 could range from $95 to $115 per barrel, The Caspian Post reports, citing TASS.

The report also notes that prices for other commodities would significantly exceed current forecasts under such conditions.

In addition, the World Bank’s experts stated that prices for ferrous and non-ferrous metals may increase more than anticipated due to inflexible supply conditions and resilient demand in global markets.

Separately, IMF Chief Economist Pierre-Olivier Gourinchas acknowledged in mid-April that the US-Israeli military operation against Iran could potentially trigger an energy crisis of an unprecedented scale.