In a recent analysis, Garbis Iradian, Chief Economist at the Institute of International Finance, highlights the precarious position of the global energy market in light of rising tensions in the Middle East. Iradian suggests that a further escalation of conflict in the region could result in oil and natural gas prices soaring by up to 40% within the year. This potential spike is linked to fears of disrupted supply chains and heightened geopolitical risks, which could stifle global economic growth and substantially reduce international trade volumes.