According to AFP, Brent crude futures have soared up 7.6 per cent to $119.69 a barrel, the highest price in over four years, the highest since the early weeks of Russia's invasion of Ukraine in 2022.
The economic ripple effects are widening fast. The UN Development Programme warned Wednesday that the war could push more than 30 million people into poverty across 160 countries, driven by soaring energy and fertiliser costs. "It's development in reverse," said UNDP chief Alexander De Croo.
Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.