A growing conflict between Israel and Hamas could undermine the world economy, Bloomberg reports.
If the clash escalates into a direct confrontation between Tel Aviv and Tehran – though unlikely – the price of oil will soar to $150 a barrel and global inflation will be 6.7 per cent. At the same time, Biden will have big problems: petrol at American petrol stations will inevitably rise in price, and it will be difficult for him to be re-elected in such a situation.