World Bank Forecasts 23% Surge in Global Commodity Prices for 2026 Amid Middle East War and Black Sea Disruptions

The World Bank has projected a 23% increase in global commodity prices for 2026, driven by rising energy costs and disruptions to cargo shipping due to the ongoing conflict in the Middle East and issues with grain shipments in the Black Sea. The report highlights that global oil stocks are depleted, and oil supply is expected to drop by 5.2% in 2026, the largest decline in four decades outside of the 2020 global recession. These factors threaten to worsen inflation, food insecurity, and economic growth globally.