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Qatar National Bank: Iran War Will Prolong Asia's Energy Crisis
Qatar National Bank expects that oil production will not return to pre-crisis levels before early next year, due to the ongoing repercussions of the military escalation between the United States and Iran. The report indicated that the current energy crisis has caused crude prices to rise to $118 per barrel, along with a decrease in global inventories. These developments are affecting Asian economies through higher energy costs, increased food prices, and declines in local currencies, thereby amplifying inflationary pressures and slowing economic recovery.
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