Three Implications of the oil shock for the turbulent political economy of development cooperation
Sumner, Andy / Stephan Klingebiel
(2026)
published on developmentresearch.eu, 12.06.2026
Volltext/Full text
The 2026 US–Israel–Iran war has produced what the International Energy Agency describes as the largest supply disruption in the history of the global oil market. Brent crude rose from around $70 at the end of February to a peak of about $140 in early April before settling around $100 as of early June 2026. In a new Brief we argue that the significance of the oil shock lies not only in the price increase itself but in its timing.
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