"Israel's economy in war’s mode" Puls Biznesu, 2023-10-15, Joanna Dyduch in an interview with Alicja Skiba, commented and assessed what impact the war between Israel and Hamas will have on the economy. 

“(…) For the world, the biggest cause for concern is undoubtedly the impact of the war on the energy sector, even though Israel is not an oil producer. 

The conflict has already caused confusion in the market. Concerns about the supply of oil and natural gas led to increases in the prices of both raw materials. Last Monday, the price of Brent crude oil increased the most in six months - by over 4%. to USD 88.17 per barrel. The price of blue fuel increased by up to 14%, which was the highest since August. The American company Chevron stopped the operation of the production platform in the Israeli Tamar field, which reduced natural gas supplies from the Middle Eastern country to Egypt by 20%. This may make it even more difficult for Europe to move away from Russian LNG. 

– There are estimates that the impact on the fuel market will not be significant – the expert consoles. 

However, the worst-case scenario may materialize if other countries join the war. 

- Dmitry Peskov, the Kremlin spokesman, said on Wednesday that he saw a high risk of a third party getting involved in the conflict. He did not mean the US, but one of the regional actors, such as Iran. Maybe, among others the channels in the Strait of Ormus through which crude oil is transported may be blocked - explains Joanna Dyduch. 

She points out that the security of transport of gas, which Israel extracts and exports from the East Mediterranean in cooperation with the Americans, Cyprus and Greece, is also at risk.”