'Expensive energy is back' — and it's threatening the global economy, IEA warns

Oil prices have surged more than 25 percent this year, prompting some investors to speculate about the possibility of a return to triple-digits before year-end. Meanwhile, President Donald Trump has repeatedly blamed OPEC for rising gasoline costs, as prices continue to head in the wrong direction for American consumers with midterms just around the corner. The closely-watched report comes less than four weeks before the U.S is set to impose targeted crude sanctions against Iran, with Brent prices now established above $80 a barrel.