Leaders warn Middle East war strains energy, hits poor

The heads of four major global economic institutions warned on Friday that the ongoing war in the Middle East is severely straining global energy supplies and disproportionately harming the world’s most vulnerable economies. The joint statement from the International Energy Agency, International Monetary Fund, World Bank Group, and World Trade Organization highlighted the conflict’s substantial and uneven impacts on energy security, food supplies, and economic stability across regions.

The warning followed a meeting on Thursday of a high-level coordination group established in April to maximize the institutions’ response to the conflict’s economic fallout. While noting the global economy has remained resilient, the officials stated the effects are hitting poorer countries hardest through higher fuel and fertilizer prices, increased uncertainty, and risks to jobs and livelihoods. They expressed particular concern over rising fertilizer costs as many countries enter critical planting seasons, which could affect future food production.

A central factor in the economic strain is the major disruption to oil shipments through the Strait of Hormuz, a key global shipping route. The...