Today is the tenth day of the war launched by the US and Israel with strikes on Iran starting February 28. Even as the cycle of strikes by the US and Israel remain unabated, followed by retaliation by Iran, the conflict is also severely impacting the economy of the region, including oil prices.Iran foreign minister Seyad Abbas Araghchi has said that oil prices have doubled as a result of the conflict and prices of other commodities are also skyrocketing. Araghchi added that while the US is hoping to contain the huge inflationary shock by “plotting” against Iran’s oil and nuclear sites, Iran remains fully prepared.