High oil prices threat to world economy.

High oil prices threat to world economy

Tomoki Matsubara / Yomiuri Shimbun Staff Writer

Yomiuri

Concern is looming over the adverse effect high crude oil prices will have on the economies of Japan, the United States and Europe, as well as those of emerging countries.

Given the increasingly tense international situation involving Iran and worldwide monetary easing, many observers expect crude oil prices to remain at high levels. This is threatening to become a new risk factor for the world economy following the European debt crisis.

The price of West Texas Intermediate, the U.S. oil used as a benchmark, for April delivery rose to the 110 dollars per barrel level Thursday …