A ceasefire is urgently needed for humanitarian reasons - the risk of the conflict spreading also creates economic dangers
An oil field in Bahrain: any disruption to supply from the Middle East could quickly push up oil prices, according to a new World Bank study The international economy has come through an extraordinary period of turbulence with the Covid-19 pandemic quickly followed by the Russian invasion of Ukraine. Now events in the Middle East bring more uncertainty, mainly though not exclusively related to the prices and availability of oil.
As the fighting continues, financial and commodity markets have so far remained relatively calm. Investors and traders are reckoning that the conflict will not spread and draw in other regional players. If it does, this calculation could quickly change. Around one third of the world’s oil comes from the Middle East – any disruption to this could be quickly send oil prices higher.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Irish Journalism Awards: The Irish Times has 37 nominees shortlistedEntries are spread across a range of categories including arts, business, crime, foreign affairs coverage, news, investigative and politics
Read more »
Irish citizen stuck in Gaza makes emotional plea for ceasefireAn Irish citizen in Gaza City has made an emotional plea for help from the Irish Government, as Israeli airstrikes continue to bombard the besieged enclave.
Read more »
Irish tweed: how the next generation of Irish designers are reinterpreting the heritage textileIrish tweed has a fascinating history, one that continues to evolve as each generation reinterprets it with their own vision.
Read more »
Get Excited! Boots' Best-Selling Fragrances Are Incredible Value This ChristmasSTELLAR Magazine, Irish Fashion, Irish Women's Magazine, Irish Beauty, shops in Ireland, celebrity news, glossy magazine, Fade Street, make-up tips, Irish style, Vip Magazine Group
Read more »
The Irish Times view on the latest euro zone inflation figures: clearly on the declineFalling inflation comes as some relief for households, though in most areas of spending the actual level of prices remains high
Read more »
Sherry Fitz doing business, falling energy bills, and being wary of online influencersThe best news, analysis and comment from The Irish Times business desk
Read more »