Goldman Sachs says the Israel-Hamas war could have major implications for Europe's economy

The ongoing Israel-Hamas war could affect European economies via lower regional trade, tighter financial conditions, higher energy prices and lower consumer confidence, Goldman Sachs said.

The ongoing hostilities could affect European economies via lower regional trade, tighter financial conditions, higher energy prices and lower consumer confidence, Europe Economics Analyst Katya Vashkinskaya highlighted in a research note Wednesday.Sign up for NBC San Diego newsletters. The most important and potentially impactful way in which tensions could spill over into the European economy is through oil and gas markets, Vashkinskaya said."Since the current conflict broke out, commodities markets have seen increased volatility, with Brent crude oil and European natural gas prices up by around 9% and 34% at the peak respectively," she said.

"However, for the drag to appear, oil prices must remain consistently elevated, which is already in question, with the Brent crude oil price almost back at pre-conflict levels at the end of October."

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman Sachs says the Israel-Hamas war could have major implications for Europe's economyThe Israel-Hamas war could significantly impact economic growth and inflation in the euro zone unless energy prices remain contained, Goldman Sachs says.
Source: CNBC - 🏆 12. / 72 Read more »