Abubakar Siddique
The prospect of an all-out war in the Middle East increased after Iran launched a massive missile attack on Israel on October 1.
Israel has threatened retaliation, fueling concerns of a disruption to the flow of oil and gas from the energy-rich region.
Global oil prices have already soared 9 percent since Iran’s attack, which came amid Israel’s yearlong war in the Gaza Strip and its invasion of southern Lebanon earlier this month.
A full-scale conflict between Israel and Iran could upend the international energy supply and send shock waves throughout the global economy, experts warn.
“Major disruption of regional oil and gas exports is likely to have a material impact on the global economy,” said Farzan Sabet, senior research associate at the Geneva Graduate Institute.
‘Act Of Aggression’
Israeli media reports suggest the country could target Iran’s nuclear sites or its oil or gas installations.
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