Bank says worst-case scenario would see conflict spread across the region and oil prices exceed $140 per barrel, driving up the cost of food
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Kristalina Georgieva says ongoing war is 'darkening the horizon' for an already weakened global economy as energy watchdog keeps a tight watch on feared oil supply disruptions

Russian state media says 3 servicemen dead, plane damaged after fuel truck explodes in Ryazan; separate explosion at Engels air base, location of long-range craft

'From this year, Europe will live without Russian oil,' says Moscow official; Kyiv says limit doesn't go far enough

Limit will come into effect on Monday, along with European embargo on Russian crude oil; White House: 'Welcome news'; Putin threatens further strikes on Ukrainian infrastructure

US oil futures drop nearly 3% to finish below $90 a barrel; 'Risk of a global recession is pretty high at the moment,' says financial analyst

Meeting in Jeddah will bring together leaders of the six-member Gulf Cooperation Council as well as Egypt, Jordan and Iraq

Planned trip to oil-rich kingdom comes as China increasingly looks to Gulf Arab nations, which have mostly rebuffed US efforts to isolate Russia over its invasion of Ukraine

Bruno Le Maire warns Russia's invasion of Ukraine and subsequent sanctions on crude will send prices to record highs not seen since OPEC embargo following the 1973 conflict

Biden announces US ban on all oil imports, UK says it will phase out such imports by end of 2022; EU plans two-thirds cut in Russian gas purchases this year