The military escalation between Israel and Iran has renewed fears of a major Middle East conflict, with significant implications for oil markets and the global economic outlook. Escalating Israel - Iran tensions could disrupt global supply chains (Credit: Getty) Escalating Israel - Iran tensions could disrupt global supply chains, trigger oil price surges and impact transportation costs worldwide Global oil markets have jolted, with Brent crude jumping more than 10% after. Iran ’ s unprecedented attack on Israel over the weekend has ratcheted up tensions in the oil-rich Middle East yet again, threatening to send fuel prices skyward if the conflict escalates and. Three experts explore the war ’s impact on global energy markets, Iran -Gulf relations, President Trump’s oil price calculations, and more. Israel launched military strikes against Iran 's nuclear facilities, leading to a significant surge in global oil prices and increased geopolitical uncertainty. Despite not relying on Iran for its oil supplies, petrol and other prices in Australia will rise due to the global impact of the Israel –Iranian war . The Israel-Iran war drove up crude oil prices, raising fears of major global supply outages. Oil prices initially spiked by more than 15 percent , although the price increases retreated after the initial air assault did not impact energy infrastructure. The ongoing conflict between Israel and Iran represents one of the most significant geopolitical flashpoints affecting global oil markets in recent years. As tensions escalate between these regional powers, crude oil prices and Israel - Iran conflict have responded with notable volatility. Impact of Iran ‑ Israel Tensions : Iran-Israel tensions are driving oil prices higher and shaking global markets. Discover the economic impact, energy risks, and key investor strategies for 2025. Energy markets have shown a muted response to Iran ’s unprecedented attack on Israel over the weekend, despite the threat this escalation poses to global oil supplies. But, as Israel weighs its response, the risks to fuel prices and global energy security are extremely high. Our experts comment on what to watch for as tensions rise.
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