Fahad Hassan: Gulf crisis reshapes inflationary outlook

There can be no doubt that this is a profoundly dangerous moment for the world. The risk that the current conflict in the Middle East becomes an entrenched war that could undermine global economic growth is very real. The current scenario is one where oil prices have risen sharply, touching well above $100 a barrel in Asian trading overnight on Sunday and settling around $90 following some indications from US President Trump that the end of the war may be, in his words, ‘very close'. The elevated price reflects a growing belief that oil traffic will be curtailed for a prolonged period...