OECD warns world economy hurt if Middle East conflict continues

Asian economies face energy inflation

Rising energy costs from ongoing tensions could push inflation up by another 1.3% points by 2027, with Asian countries likely feeling it most since they rely heavily on Middle Eastern energy.
The OECD also mentioned that central banks might have to hike interest rates to keep up, while Japan's growth is set to slow down despite government efforts.

If the conflict ends soon, though, things should start looking up again as energy supplies recover.