Israel's war on Gaza in 2023, following the October 7 Hamas attack, has had reverberating effects across the Middle East and the world. In the aftermath of what the United Nations has since termed a genocide, Iran's so-called 'axis of resistance', particularly Hezbollah and the Houthis, stepped up their attacks on Israel in a bid to "support Gaza". For its part, since October 7, Israel has adopted a more aggressive regional posture and now occupies far more territory in Syria, Lebanon, the West Bank and Gaza.

Markets brace for possible oil shock amid US-Iran war

Amid the US-Israeli war with Iran, traders are pricing in the possibility of an oil shock, particularly if tensions threaten traffic through the Strait of Hormuz, the artery through which roughly a…

Al Majalla - London