Energy prices play central role in ongoing United States and Israeli conflict with Iran

Energy prices have emerged as a central factor in the war involving the United States, Israel, and Iran, according to the International Crisis Group. The United States is actively working to lower oil, gas, and fuel prices, while Iran is seeking to keep them high as both sides attempt to prevail in the conflict. [1]

The International Crisis Group reported that five specific market-shaping developments could dictate whether the military fighting de-escalates or escalates further. Meanwhile, EnergyNow.com reported that the World Bank forecasts a 24 percent surge in global energy prices in 2026 as a direct result of the Middle East war. [1][2]

Diplomatic efforts surrounding the regional crisis continue alongside the economic pressure. As FTMQ World reported earlier, Russian President Vladimir Putin met with Iranian President Masoud Pezeshkian in Turkmenistan ahead of the Commonwealth of Independent States summit to vow Russian support in ending the conflict. [3]

During that meeting, President Putin pledged that Russia would do everything possible to help conclude the war. FTMQ World previously noted that Al-Monitor reported Russia has provided Iran with military materiel, intelligence, and diplomatic backing during the confrontation. [3]