June 12, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Global crude oil prices are expected to linger at pandemic-era levels as increased global trade tensions point to a dramatic downturn in global trade, the World Bank said. "After a succession of adverse shocks in recent years, the global economy is facing another substantial headwind, with increased trade tension and heightened policy uncertainty," the World Bank stated in its biannual Global Economic Prospects report.
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