Sooner or later a World War 3 is going to take place and history is going to repeat itself. It would either be any of the oil producing countries or may be US.
Iraq, Iran, and the Gulf are known for the exporting oil to the major parts of the world, and if these countries do not perform well the world has to see the consequences. If the news is to be believed, then it is said that the Israel is going to attack Iran soon over its controversial nuclear program. However, it is believed that Obama wants to delay the attack as the elections are around the corner, and the country is not ready for another war.
It is believed that the attack would take place somewhere in the month of September, but as mentioned earlier the elections may be somewhere in November. Even Israel is with the US, and they are the ones who believe that Iran should be taught a lesson. However, the world knows that Iran does not believe in permissions and grants. If they want to do something, they are surely going to do it no matter what.
Iran has already cut supply of oil in some major European countries and reports are there that it is planning to the same with a few other major European powers. If that happens it would lead to escalation in prices of oil around the world and would cause economic catastrophe.
It would be a chain reaction where if Iran attacks Israel then US will declare a war against Iran and many Europeans countries would also get involved which would be similar to the World War II which was a situation that should never come back. But, still Israel has not made any decision whether to strike any attack on Iran, but the situation is definitely volatile. But it should also be in everyone’s mind that no country in this world would want another war, which is already witnessing many wars in many fronts.