International organizations jointly warn of the negative impact of Middle East conflicts

The statement said that while the global economy still demonstrates resilience, the increase in fuel and fertilizer prices caused by conflicts in the Middle East, together with greater uncertainty and risks to employment and livelihoods, is having a greater impact on the most vulnerable countries. As some nations enter the planting season, the rise in fertilizer prices is especially concerning. The statement emphasized the importance of closely monitoring fertilizer supply chains, energy and economic conditions, and policy responses. It also noted that, due to the "congestion" in the Strait of Hormuz, global oil inventories are declining at a record pace. If shipping does not return to normal, global oil inventories will continue to fall rapidly ahead of the peak demand season in the Northern Hemisphere summer, which will pose increasing risks to fuel security, market conditions, and economic resilience.