There are concerns the conflict could spill into the region.

“There’s also a risk of the conflict escalating regionally. If Iran is sucked into it, there could also be supply issues, though we’re not at that stage yet,” Eurasia Group’s director of energy, climate and resources Henning Gloystein told CNBC in an email. 

Lebanese militant group Hezbollah said it launched attacks on three sites in the Shebaa Farms — a strip of land that sits at the intersection of the Lebanese-Syrian border and the Israeli-occupied Golan Heights.

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