The increase this year, driven by geopolitical tensions and supply shocks, could hamper efforts to rein in inflation.
Oil prices are at their highest level in months and central banks are keeping a close eye on the markets.
For the first time since October, Brent crude, the international benchmark, topped $91 a barrel last week.
That threatens a rise in gasoline prices in the United States and elsewhere, reigniting fears over inflation.
The increase in prices has been driven in part by geopolitical tensions in the Middle East.
Supply shocks after several output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies are also pushing prices up.
Zimbabwe has launched a new currency.
Plus, McDonald’s buys back its Israeli restaurants.
February the 5th, 2025 – Business relations between Croatia and Qatar increased over the first ten months of 2024, with a well of potential seen with bot
Save Up to £300 with Virgin Atlantic Holidays This Weekend Virgin Atlantic Holidays will be running a Tiered Spend and Save offer this Weekend, of
Photo Credit: The Prime Minister's Media AdviserTrump's Special Envoy to the Middle East Steve Witkoff met Prime Minister Benjamin Netanyahu, Janua
World leaders to attend Saudi Real Estate Future Forum 2025 for industry-shaping discussions