Global commodity prices are set to surge 23 per cent in 2026, the World Bank said, citing rising energy prices and disruptions to cargo shipping during the Middle East war, grain shipment problems in the Black Sea and high demand for safe-haven assets such as gold, Reuters reports.
Oil, natural gas, food and metals prices all rose sharply this year as global shocks mounted, the World Bank said in its latest Commodity Markets Outlook.
It said the situation could worsen if the conflict in the Middle East ratcheted up and damage to Russian oil infrastructure continued.
