The World Bank announced a 32% jump in energy prices due to the war in the Middle East. In the latest report, the World Bank warned of the economic consequences of the war in the Middle East and a record low in the global energy and commodity markets. The global energy price has reached its highest level in the last four years with a jump of 32% this year. Tensions and conflicts in the Middle East region have caused severe depletion and erosion of oil reserves. The global price of basic products increases by 23% at the same time as the international shocks increase.