Whatever marginal and transient impact on the price of a gallon of diesel that President Trump’s oil deal with President Putin may eventually yield, it will be dwarfed by the latest escalation of fighting in the Middle East.
If, as seems likely, the attack by the Yemeni Houthi rebels on Riyadh airport leads to a widening of the various interlinked conflicts across the region, then the economic impact will be as wide and profound as the humanitarian tragedy that has already brought so much suffering, especially, once again, to the Palestinian people.
