in the last two years our world has seen major Wars in 2022 it began with the Russia Ukraine war in 2023 that's last year Hamas terrorists attacked Israel and Israel began a military operation in Gaza which is yet to end now Israel and Iran are engaged in a direct Faceoff these conflicts impact not just the countries involved but the whole world they hurt the global economy and disrupt Supply chains it's no wonder that today events have triggered more uncertainty how will Iran's attack impact oil prices will the global markets be hit what about travel and
trade disruptions our next report tells you all that you need to know Iran's attack on Israel May reshape the regional Dynamics but in the immediate future an escalation of tensions in West Asia threatens to an already fragile global economy oil the regions most important export remains vulnerable Iran's attack could lead to a spike in prices already the market for oil is volatile the price of one barrel is inching closer to $100 if there is a disruption in supplies for a long period the daily supply of crude could shrink by up to 8 million barrels a
day how would the shortage impact the price the cost of one barrel of oil could jump up to as much as $140 that's troubling news for countries like India India Imports 85% of its crude needs since late March prices have jumped to a 4month high putting pressure on the margins of Indian manufacturers they cut fuel prices just last month if the global prices don't stabilize soon sustaining the lower prices may prove to be challenging stock market investors are wary too on Sunday West Asian markets dipped after the Iranian attacks stocks in Saudi Arabia Qatar and
Israel dipped the losses were relatively minor American markets too are under pressure on Friday the S&P 500 closed in the red investors blamed geopolitical tensions as the reason fears of a wider War could make them more nervous cryptocurrency also witnessed wild fluctuations when Iran attacked Israel Bitcoin fell sharply by 9% however the token rebounded later in the day but if Israel escalates bigger losses could could be in store in that case the aviation sector May face the most significant repercussions already a number of Airlines have either called off flights or rerouted their planes this includes
names like Quantas Airways Singapore Airlines Lanza Kuwait Airways and swiss International India's biggest airlines are forced to take measures too India vistara and indigo have suspended their flights to tan they're also avoiding the Iranian airspace so if you have a flight scheduled soon chances are it may take longer for you to reach your destination or Worse your flight may be canceled alt together but it's not a crisis for everyone investors in Gold are cheering the global uncertainty has led to a surge in Gold purchases the yellow metal has gained by 133% already touching a price
record of $2,400 for an ounce briefly however The Strife in West Asia will give little Comfort to economists already the IMF is worried about this year's Outlook the scars of the pandemics are still with us the global output loss since 2020 is around $3.3 trillion dollar with the cost disproportionately falling on the most vulnerable countries and we see a growing Divergence within and across country groups since 2020 our world has faced a slew of Crisis from the pandemic to the many wars for the well-being of the global economy it is critical that cooler heads [Music]
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