Dhaka, March 28 -- Bangladesh is facing a looming economic challenge as global oil prices are set to cross the critical threshold of US$120 per barrel amid escalating tensions in the Middle East.

Researchers at a press briefing on Saturday warned that such a surge could impose an additional annual burden of Tk 610 billion on the country's economy, raising serious concerns about sustainability, industrial growth, and employment.

Change Initiative carried out the study, where the researchers revealed that every $10 increase in Brent crude oil prices per barrel translates into nearly $1 billion in extra annual expenditure for Bangladesh.

With the country importing about 95% of its energy needs, this dependency leaves the economy highly vu...