A report from The Independent confirmed today, Sunday, that the Houthi attacks on Riyadh Airport pose a risk of turning the conflict between Iran and Saudi Arabia into a comprehensive regional war, revealing America's inability to protect its Gulf allies and threatening global energy supplies, inflation rates, and economic stability.
The report, which was reviewed by the "News Video Agency," stated that "whatever marginal and transient impact may ultimately result from the oil agreement reached between US President Donald Trump and Russian President Vladimir Putin on the price of a gallon of diesel, it will pale in comparison to the recent escalation of fighting in the Middle East."
It added that "this conflict is likely to expand regionally amid the intertwining struggles in the area, so the economic impact will be as broad and deep as the humanitarian tragedy that has already caused much suffering, particularly for the Palestinian people once again."
The report explained that "the Middle East is no stranger to terrorism and wars, but there is a clear danger of an all-out conflict that drags in active parties ranging from Turkey to armed factions in Somalia, from Israel to the Iranian border with Pakistan, as ancient religious and ethnic divisions shape new alliances, all heavily armed with drone technology and modern missiles, and in some cases, nuclear weapons, whether already existing or under rapid development. One can only fear the repercussions that the outbreak of such an all-out war might have on the price of a barrel of oil, as its economic impacts would extend to encompass the entire world; in short, it would lead to a wave of upward movement driven by energy prices affecting inflation rates, interest rates, and sovereign debt crises, including US debts and economic recessions."
The report pointed out that "given that the White House tends, driven by political opportunism, to pretend otherwise, the current energy crisis, particularly the acute global shortage of diesel fuel, is not primarily due to Ukrainian forces targeting Russian refineries; rather, the main and overwhelming cause is the 'Iran War,' which Trump decided to join with Israel last February."