New Delhi, Feb. 28 -- The economic impact of the US and Israel attack on Iran on Saturday, 28 February, will be determined by the duration the conflict lasts, economists told Khaleej Times.

William Jackson, chief economist for emerging markets at Capital Economics, noted that the effect will also depend on the extent of Iranian retaliation and the resulting spillovers in the oil market.

"A limited set of strikes could plausibly send oil towards $80 per barrel, while a longer conflict that causes disruptions to supply could send prices much higher - with a material effect on global inflation," Jackson told the news portal.

The US and Israel launched "Operation Epic Fury," triggering a new military clash in the Middle East. This attack c...