Israel vs Iran War Discussion - Impact of this war on Global Economy

[JAM]

Small countries with very less power and resources. Israel has US, Iran has Russia and China. The big daddies won’t be too keen to fight in Iran vs Israel.

All in all, localised issue with very limited impact.

Most likely

Iran doesn't have Russia and China. No country other than Iran wants Iran to become a nuclear power.
Their alliances are strategic to certain goals at best. And while we don't have to discuss religion, one country is theocratic autocracy while the other two persecute people from that religion.
And Iran has one of the largest oil reserves of good quality oil.