The threat of an escalating conflict between Israel and Iran has created an “extraordinarily precarious” global situation, sowing alarm about the potential economic fallout. International Relations, Oil (Petroleum) and Gasoline, United States International Relations, Economic Conditions and Trends, War and Armed Conflicts, International Trade and World Market, Developing Countries, Russian Invasion of Ukraine (2022), Refineries, United States Economy, Alternative and Renewable Energy, Biden, Joseph R Jr, Putin, Vladimir V, Iran, China, Africa, Middle East, Israel, Russia, Europe The threat of an escalating conflict between Israel and Iran has created an “extraordinarily precarious” global situation, sowing alarm about the potential economic fallout. NYT > Business