…As missiles fly in the Middle East, the economic shockwaves are already hitting home.
…The Middle East is the world’s foremost oil-producing region and a major maritime route
The global oil market has once again been thrust into turmoil, this time by the escalating conflict between Israel and Iran. As tensions flare in the Middle East—a region central to global energy supply—oil prices have become increasingly volatile, swinging in response to fears of disruption. On Tuesday, June 17, five days after the new hostilities, oil prices were driven even higher with Brent and WTI up more than 2 percent.
