Global energy executives gathered in the Malaysian capital on Monday for an industry conference with an eye on the dramatic escalation in the conflict between Israel and Iran, which has fuelled worries that it could widen and disrupt supply.

The confrontation with Tehran has forced a shift in the U.S. plan for a diplomatic deal in Iran and efforts to disentangle from region.

Israel’s attack on Iran has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households.

Leaders from the Group of Seven nations begin annual talks on Monday amid wars in Ukraine and the Middle East that add to global economic uncertainty, as host Canada tries to avoid a clash with U.S. President Donald Trump.

AMANEY A. JAMAL is Co-Founder and Co-Principal Investigator at Arab Barometer, Dean of the Princeton School of Public and International Affairs, and Edwards S. Sanford Professor of Politics and International Affairs at Princeton University.

Israel’s attack on Iran has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households

Major equity indices, which had been hovering near all-time highs, pulled back as geopolitical risks surged back to the forefront.

By Wayne Cole and Alun John SYDNEY/LONDON (Reuters) -World shares nudged up on Monday, helped by oil walking back some of last week's increase, though the conflict between Israel and Iran remained a concern,