According to UOB Investment Insights, the most immediate impact is higher oil prices due to the risk of oil supply disruption from the Middle East.
In retaliation to Israel’s airstrike on the Iranian consulate in Syria on April 1, Iran launched more than 300 ballistic and cruise missiles, as well as attack drones, at Israel on April 14. The vast majority of missiles and drones were intercepted by Israel and its allies.
Even though the damage was minor, the attack raised concerns of broader and deeper conflict in the Middle East, say UOB analysts in an April 15 note.
