Fuel, Fertilizer Costs Remain High Amid Ongoing Supply Chain Strains
In a joint statement, the organizations described the effects of the Middle East conflict as “substantial, global, and highly asymmetric,” noting that the impact is especially severe for energy-importing nations, with low-income countries among the hardest hit.
They explained that the crisis has driven up prices for oil, natural gas, and fertilizers, raising concerns about food insecurity and potential job losses. At the same time, some producing countries in the region have experienced significant declines in export earnings.
The statement also stressed that maritime transport through the Strait of Hormuz has not yet fully stabilized. It warned that even after shipping normalizes, global supplies of essential commodities will likely need time to return to pre-conflict levels.
In addition, the institutions noted that shortages of critical inputs caused by disrupted supply chains could spread across multiple sectors, including energy and food. They also warned that broader economic effects such as displacement, weaker labor markets, and reduced tourism and travel activity may take considerable time to recover.
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