Oil Shock Expands Global Price Pressures as Middle East Turmoil Disrupts Supply

Global energy prices have surged amid escalating Middle East conflict, with Saudi pipeline disruptions and Red Sea chokepoints raising crude, petrol, and gas costs in the UK and US; the rally could push inflation higher and slow global growth, with IMF/BoE estimates suggesting even a 10% oil-price rise would lift inflation and trim GDP, though a peace deal could ease pressure.