Nearly 80 countries have now introduced emergency measures to protect their economies as the world approaches a new, more dangerous phase in the energy crisis driven by the Iran war.
Governments are stepping up their responses ahead of a looming tipping point, when traders warn that oil prices could jump again sharply unless more fuel trapped in the Gulf can be exported through the blockaded Strait of Hormuz.
Paul Diggle, chief economist at fund manager Aberdeen, said his team was now examining a scenario where Brent crude rockets to $180 a barrel, causing surging inflation and recessions in a host of European and Asian countries.
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