The International Monetary Fund has expressed concern over rising energy prices and disruptions to global trade caused by the crisis in the Middle East.
This was stated in a publication on the IMF website on Tuesday.
The global monetary body broke its silence as the United States–Israeli war against Iran entered its fourth day.
The IMF said it is closely monitoring the situation but warned that the conflict would add to global economic uncertainties.
The IMF added that it would provide a comprehensive assessment in its April World Economic Outlook.
The global economy faces profound risks from the tension in the Middle East.
The IMF’s April World Economic Outlook is expected to provide a comprehensive analysis of the situation.
The escalation in the Middle East began on Saturday, February 28, 2026, when the US and Israel launched strikes on Iranian cities, triggering explosions and smoke in Tehran and other locations.
The ongoing crisis has heightened concerns over global crude supply, with analysts warning of price spikes and supply disruptions that could directly affect petroleum market including Nigeria’s.
For this reason, oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria advised that Nigeria must consolidate and strengthen domestic refineries by ensuring consistent crude oil supply and creating enabling policies to minimise the impact of external geopolitical shocks.