Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

China stocks near best week since 2022, oil barrel might exceed $100

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Apr 2024 10:01
4 Min Read

The World Bank warns that an escalation in the Middle East might push oil prices beyond $100 a barrel.

  • x
  • China stocks near best week since 2022, oil barrel might exceed $100
    A Chinese flag flies outside a residential compound in Beijing, China in 2023. (AFP)

Hong Kong and Chinese stocks continued to rise on Friday, with the Hang Seng Index on track for its strongest week in a year and a half.

Investor confidence improved as experts from international investment firms revised their outlook on Chinese stocks.

"A lot of investors do see some technical opportunities in China," said Tai Hui, APAC chief market strategist at J.P. Morgan Asset Management.

Read more: Russia, China ditch dollar; Moscow announces new trade corridors

The ongoing strength of the two stock markets, despite a downturn in the US markets, underscores the significance of incorporating Chinese assets into portfolios for diversification purposes.

In the same vein, BNP Paribas projected that mainland Chinese investors had acquired nearly $20 billion worth of Hong Kong stocks from March to April 23 - marking the most substantial two-month buying spree since 2021.

Tensions in ME could drive oil past $100

The World Bank has stated that a significant escalation of tensions in the Middle East could drive the price of oil beyond $100 per barrel and reverse easing global inflation.

Read more: Blinken to head to China April 24-26 to discuss 'serious concerns'

Related News

China imposes counter-sanctions on US officials over Hong Kong dispute

China denounces US 'interference' over Hong Kong bounties

The organization noted that the recent decline in commodity prices had started to stabilize even prior to the Iranian response to "Israel," complicating interest rate decisions for central banks.

However, it further stated that its prediction of crude oil prices averaging $84 a barrel for this year would likely be overly optimistic should the situation in the Middle East escalate.

Concerns about a major conflict erupting in the Middle East have caused oil prices to increase, resulting in higher fuel expenses. Brent crude oil is currently being sold at $87 per barrel, and the typical cost of a liter of unleaded petrol in the UK has surpassed £1.50, marking the first time since last November.

In its latest commodity market report, the World Bank said, “A moderate conflict-related supply disruption could raise the average Brent price this year to $92 a barrel. A more severe disruption could see oil prices surpass $100 a barrel, raising global inflation in 2024 by nearly one percentage point.”

Read more: Middle East escalations drive up oil prices, influence OPEC+ decisions

Interest rates to remain higher than expected

Markets have already reduced their expectations regarding the extent and speed of interest rate cuts anticipated for this year.

“Global inflation remains undefeated. A key force for disinflation – falling commodity prices – has essentially hit a wall," said Indermit Gill, the World Bank chief economist.

“That means interest rates could remain higher than currently expected this year and next. The world is at a vulnerable moment: a major energy shock could undermine much of the progress in reducing inflation over the past two years.”

Read more: Election year likely to shelve US enforcement of sanctions on Iran

The bank noted that prices of natural gas, food, and fertilizers may also rise in the event of a worsening situation in the Middle East. If a disruption occurred in the Strait of Hormuz, where a significant portion of liquefied natural gas (LNG) exports pass through, prices of fertilizers, which depend on LNG for their production, would increase significantly. This would likely lead to higher food prices.

The Bank's forecast suggests that, if the Middle East crisis remains stable, food prices are expected to decrease by 6% in 2024 and 4% in 2025, while fertilizer prices are projected to decline by 22% in 2024 and 6% in 2025.

Read more: Venezuela oil Co. expands digital currency use amid US oil sanctions

  • Hong Kong
  • Oil
  • China
  • Natural Gas
  • Gaza
  • Middle East
  • Oil prices

Most Read

Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025
Why is Choose Love using a firm with British and US intelligence connections to run a pro-Palestine musical event? (Al Mayadeen English; Illustrated by Batoul Chamas)

Together for Palestine: Troubling questions about the organisers of this huge event

  • Opinion
  • 17 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Hezbollah supporter who lost his sight in a pager attack carried out by "Israel" on Sept. 17, 2024, covers his eyes with a red headband inscribed with the name "Hussein" during Ashoura, July 6, 2025 (AP)
Politics

'We Have Recovered': Lebanon marks 1st anniversary of Pager Attack

The Arab neighborhood of El Za'im, on the outskirts of east Occupied Al-Quds in the West Bank, near where Israeli government says housing units will be built as part of the E1 settlement project, Thursday, August 21, 2025. (AP Photo/Ohad Zwigenberg)
Palestine

'Israel’s' deliberate policies drive West Bank economy toward collapse

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa)
Politics

Ben & Jerry’s co-founder resigns over parent company curbing activism

Trump’s approval rating falls to new low in second term: Poll
US & Canada

Trump’s approval rating falls to new low in second term: Poll

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS