Middle East Tensions Threaten Energy Supply, Keeping Inflation and Gas Prices High Amid Slowing Global Growth

Oil prices jumped up to 5% as Middle East crisis threatens energy supply and global economy already facing slowdown.

Inflation has eased in many countries but still high, while geopolitical tensions, debt, and extreme weather push up food and energy costs.

Conflict could keep gas prices high, hindering Fed interest rate hikes and Biden administration's efforts to lower costs.

Rapid rise in long-term rates risks economic growth and financial market instability like early 2022.

IMF says it's monitoring situation closely but too early to determine full impact on global economy.