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Maroc Maroc - WN.COM - Business - 01/Mar 01:21

How US-Iran tensions could shape world markets

The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of escalation grew, and Tehran responded by launching missiles towards Israel. Here’s how the conflict could play out across world markets. Oil spike Oil is the main barometer of Middle East tension. Iran is a major producer and lies opposite the oil-rich Arabian Peninsula across the Strait of Hormuz, through which about 20 per cent of global oil supply passes. Conflict...

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