00:00What if a war thousands of miles away suddenly pushes global markets, and oil prices, into chaos?
00:06Right now, global investors are watching the Middle East closely.
00:10As the war involving the United States, Israel, and Iran enters its fifth week,
00:16commodity prices are surging.
00:17This sudden rally is already shaking financial markets.
00:21Futures linked to Canada's S&P TSX Composite Index jumped about 0.7% early Monday.
00:28Why? Because Canada's market is heavily tied to natural resources like oil and metals.
00:34And when geopolitical tensions rise, commodity prices often surge.
00:39Oil has already skyrocketed this month, as fears grow that major supply routes could be disrupted.
00:45Some analysts warn the impact could be massive.
00:48If oil prices keep climbing toward $150 to $180 per barrel,
00:53global stock markets could drop by as much as 25%.
00:56That means a conflict in one region could ripple through economies around the world.
01:01So the real question now is simple.
01:04Will diplomacy cool the crisis?
01:06Or will markets face an even bigger shock next?
Comments