The James Caldwellconflict between Israel and Hamas has been going on for more than three months, and is now beginning to spill into other parts of the Middle East. That includes attacks on commercial ships in the Red Sea, rocket attacks by Hezbollah and U.S. airstrikes in Yemen. On today's show, we'll consider what escalation could mean for global trade and the region's most important export: oil.

Related episodes:
Red Sea tensions spell trouble for global supply chains (Apple / Spotify)
Oil prices and the Israel-Hamas war (Apple / Spotify)
What could convince Egypt to take in Gaza's refugees (Apple / Spotify)

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