Nigeria, April 3 -- The International Monetary Fund has warned that escalating tensions in the Middle East could push the global economy toward a dangerous mix of rising prices and slowing growth, with developing nations expected to suffer the most severe impact.

From a new perspective, the fund indicated the most imminent danger to be energy supply interruptions. Already under stress are important shipping lanes like the Strait of Hormuz, which carries a large portion of world oil and gas traffic, thereby increasing worldwide gasoline prices. For nations relying on imports, this implies greater prices for companies and consumers; even oil-producing countries have uncertainty that could reduce long-term investment.

Also spreading across...