The Israeli-Hamas war has sharpened focus on rising geopolitical risks for financial markets, as investors wait to see if the conflict draws in other countries with the potential to drive up oil prices further and deal a fresh blow to the world economy.
Israel's Prime Minister Benjamin Netanyahu vowed on Sunday to "demolish Hamas" as his military prepared ground operations in Gaza to root out the militant group, whose deadly rampage through Israeli border towns stunned the nation.
SourceThe conflict in the Middle East has never subsided, but as stated by several people in this forum, the turmoil in the Middle East did not have a serious impact on the global economy, in contrast to the conflict between Russia and Ukraine which had a very big impact. affect the economy. world.
However, on humanitarian grounds, I really hope that the conflict in the Middle East can soon subside, so that every country can gain its own independence and everyone can live in peace and tranquility. So that the economic activities of each country can run smoothly.
I guess the effect will be is that the Middle East will turn into another ground for war. Meaning, collectively as a Muslim, they will have to take sides, and obviously we know where they will be siding on this one, so it will be a regional war that could drag for years and so the death toll would rise.
Although there is a brief increased on the price of the oil as reported here,
Oil prices jump more than 4% in the wake of Hamas attack on Israel. So that's already a bad news.
Hopefully they can go and find a peaceful negotiations with nation in the middle or a truce should be in effect.