The World Bank has warned that the war in Gaza between Israel and Hamas could have a significant impact on the global economy, including soaring oil prices and higher food prices. Economists and risk analysts are concerned that if the conflict escalates into a wider regional war, it could disrupt the global economic recovery and affect commodity prices for both rich and poor countries. While the conflict's effects on global commodity markets have been limited so far, some analysts warn that ongoing fighting could severely threaten the world's already fragile economic outlook. The Middle East is home to 60% of the world's refugees, and the impact of the war could lead to increased displacement and migration.