What an Escalating Middle East Conflict Could Mean for the Global Economy

Published On Oct 5, 2024, 8:34 AM

The ongoing conflict in the Middle East, particularly following recent missile attacks from Iran on Israel, is creating ripples in the global economy, with increasing concerns about oil supply disruptions. Oil prices have started to rise as investors begin factoring in the potential for a wider conflict that could cripple oil supply. Current discussions around possible U.S. support for Israel to attack Iran's oil facilities have further added to market tension. Analysts note that while the situation is serious, it doesn't yet constitute a perfect storm, but the constellation of risks could impact energy access significantly if escalated.