𝐈𝐫𝐚𝐪’𝐬 𝐩𝐫𝐢𝐦𝐞 𝐦𝐢𝐧𝐢𝐬𝐭𝐞𝐫 𝐡𝐚𝐬 𝐰𝐚𝐫𝐧𝐞𝐝 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐈𝐬𝐫𝐚𝐞𝐥𝐢-𝐇𝐚𝐦𝐚𝐬 𝐜𝐨𝐧𝐟𝐥𝐢𝐜𝐭 𝐜𝐨𝐮𝐥𝐝 𝐝𝐢𝐬𝐫𝐮𝐩𝐭 𝐌𝐢𝐝𝐝𝐥𝐞 𝐄𝐚𝐬𝐭𝐞𝐫𝐧 𝐜𝐫𝐮𝐝𝐞 𝐬𝐮𝐩𝐩𝐥𝐢𝐞𝐬.

Iraqi Prime Minister Mohammed Shia al-Sudani made a bold comment during a so-called “peace summit” in Cairo with regards to the current Israeli onslaught in Gaza.  al-Sudani, prime minister of Iraq, voiced warning that the fighting between Israel and Hamas could disrupt oil shipments out of the region. This warning comes amid concerns that Middle East countries could cut off oil exports to the West in response to a possible Israeli ground offensive in besieged Gaza. Iran, the world’s eighth-largest oil producer, is backing the Palestinian Resistance movement, Hamas. The Gaza war could push prices higher, potentially causing inflation. The Iraqi Alarm could evolve into more than mere warnings, possibly in the near future. There is a risk of a breakdown in international order, renewed regional conflict, a weakening economy, and even the outbreak of war. Instead of evacuating residents during Israeli bombings on Gaza, al-Sudani has advocated for an immediate ceasefire and prisoner swap. This crisis may have been prevented if the United Nations Security Council’s resolutions condemning Israeli settlement construction on occupied Palestinian land had been implemented. Price gouging could result from the fighting between Israel and Hamas. Developing countries, particularly those that import their energy, would feel the effects more strongly. The price of a barrel of Brent crude has increased to around $93 since the confrontation between Hamas and Israel began on October 7. This is up from around $85 before the strikes.

@prognoz_newsp