General · 5 May 2026
Middle East crisis could cost world a trillion
Households and businesses globally face increased expenses from the Middle East energy crisis. Analysis indicates the global economy could incur up to a trillion dollars in additional costs, while oil firms make huge profits from higher fuel prices. The UK economy alone might suffer a £35 billion hit, and risks a recession this year, as warned by Niesr.
Reported by Guardian · How we write briefs