If the conflict spreads to other parts of the region especially iran, it could immediately impact well prices because even though iran has been under sections for the last two years it has pumped well quietly and provided them to customers across the globe. The white house has turned a blind eye especially with the last year or two because its been trying to smooth relationships between iran and the western world. Now if the white house enforces the sanction that means the supplier from sanction that means the supplierfrom iran could be cut off and comes at a time when oil supplies have been tightening because saudi arabia and russia, the two largest exporters of oil in the world, also part of 0pec , have been reducing Oil Production by 1. 3 alien Barrels Per Day and will keep doing it until the end of the year. There is a good chanceit the year. There is a good chance it could continue into next year as well so if this happens and they will be a where there will be less oil supply, wh