Fitch Ratings warns 120 dollars for oil Fitch Ratings warns 120 dollars for oil

In a statement made by Fitch, it was reported that geopolitical risks arising from the Israeli-Palestinian conflict were effective in placing Israel's long-term local and foreign currency credit rating on negative watch.

The statement said that negative monitoring reflects the risk that the current conflict could expand to include large-scale military conflicts with multiple actors over a long period of time, pointing out that other organizations and countries in the region could be involved in the conflict.

The statement emphasized that an expansion of the conflict on this scale, in addition to human casualties, could lead to significant additional military expenditures, destruction of infrastructure, a sustained change in consumer and investment confidence, and thus a major deterioration in Israel's credit metrics.

The statement warned that a significant escalation of the conflict with a material and long-lasting impact on the economy and public finances could lead to a downgrade of the country's credit rating, while a de-escalation of the conflict could have a positive impact on the country's rating.