IMF report to warn of oil price threat to global economy

Oil prices spiralled to over $67 a barrel earlier this week and many analysts have cautioned the economy could be headed for a recession if such high prices continue.
Yesterday the price of oil jumped $1 to above $65 a barrel after news that rockets hit two US warships docked in Jordan and another in southern Israel.
The IMF, normally known for cautiously worded reports, is expected to warn that, “all in all, the dangers have become greater” from oil prices, when it puts out its six-monthly global outlook in mid-September.



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