"I think this will help oil prices stay higher; the easy direction for them right now is up at this point," Spindel added. In the most severe case, global oil prices jump to around $130 per barrel, driving US inflation near 6% by the end of this year, Oxford said in the note. OIL IMPACTThe biggest market impact from the escalating conflict has been restricted to oil, with oil prices soaring on worries that the Iran-Israel conflict could disrupt supplies. STOCKS UNPERTURBEDUS stocks have so far weathered rising Middle East conflict with little sign of panic. Economists warn that a dramatic rise in oil prices could damage a global economy already strained by Trump's tariffs.

Source: bd News24 June 22, 2025 02:24 UTC