World Bank Sees High Energy Prices For Years After Russia’s War In Ukraine

The biggest energy shock since the 1970s is expected to keep oil and other energy prices elevated for years as the Russian invasion of Ukraine is changing energy trade flows and consumption and production, the World Bank said in its latest Commodity Markets Outlook report on Tuesday. Prices of food commodities have also soared, and together with the high energy prices and shocks to international oil trade, those elevated commodity prices will worsen inflationary pressures globally, the World Bank said.   The price of Brent Crude oil is expected…