The expected war in Gaza is likely to have a ripple effect on energy prices and affect other trade partners in the region. Wars often have unintended consequences and Thailand faces economic risks without a proper plan to mitigate the impact. However, there is a slim chance of this occurring as Iran does not want to interfere in this war, while Israel does not want to start a multi-front war, he said. Given fears the conflict could mushroom into a regional war, global oil prices, stock markets and gold prices may fluctuate, said Mr Somjai. SUPPLY CHAIN ISSUESThe Russia-Ukraine war and the pandemic already had a significant impact, causing disruptions to the global supply chain, he said.
