The keys: the Gulf crisis threatens to escalate as soon as it has been voted in the US and Israel
Oil reserves cushion the blow, but the prolongation of the conflict makes supply more expensive and accumulates unease among investors
Tensions in the Persian Gulf are affecting oil markets, with countries in the region finding it more expensive to export their products and facing greater uncertainty. The situation is being closely watched ahead of the US midterm elections on November 3 and Israel's legislative elections. US President Donald Trump is inclined to delay taking action against Iran until after the US elections, while Israeli Prime Minister Benjamin Netanyahu would prefer to act before Israel's elections.
The ongoing conflict is causing concern among investors, although crude and diesel reserves are currently helping to limit the damage. The prolonged nature of the conflict is likely to harm the economy and citizens.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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