New economic data reveals a sharp contraction in the oil and gas sector, with officials attributing the decline to the escalating conflict between the US, Israel, and Iran. The downturn underscores how geopolitical tensions in the region are directly impacting energy markets and industry investments. Analysts will likely examine whether this trend signals broader economic instability or a temporary adjustment. The figures highlight the growing risks of prolonged military engagements on global energy supply chains.
The oil and gas sector shrank 26 percent, new official data shows, pointing to the costs of the US-Israel war on Iran.
