Summary for Scary Oil

The most pressing issue faced by the global economy is rising oil prices. Though the demand for oil has decreased, the inflation of oil prices is due to unrest in the Middle East. Sanctions had been put on Iran to prevent the construction of nuclear warheads, but because of that Iran has retaliated by causing conflict on the Gulf, where it has already launched several attacks on the Israeli embassies. Should  the sanctions fail, the US will be forced to conduct military action against Iran and that will result a further increase of oil prices.