BEIRUT — Analysis from a humanitarian group working in Lebanon forecasts two scenarios in its report on the Hezbollah-Israel conflict, both predicting a severe economic contraction in Lebanon by early 2025.

Mercy Corps’ Lebanon Crisis Analysis Team says Israel’s continued strikes on suspected Hezbollah targets in Lebanon, without blocking key infrastructure, will still bring severe economic and humanitarian risks.

Global oil prices are falling sharply Monday after a retaliatory strike by Israel over the weekend targeted Iranian military sites rather than its energy infrastructure as had been feared.

Prices for crude spiked globally on Oct. 1 after Iran fired nearly 200 missiles into Israel, part of a series of rapidly escalating attacks between Israel and Iran and its Arab allies that threatened to push the Middle East closer to a regionwide war.

Global anti-money laundering watchdog FATF on Friday added Lebanon, which is currently being pummeled by Israeli air strikes, to its "grey list" of nations that are subject to increased monitoring of financial transactions.

The Paris-based Financial Action Task Force said it also added Algeria, Angola, and Ivory Coast.

Since Israel began bombarding Beirut's southern suburbs, Lebanon's national air carrier has become a local icon simply by continuing to do its job.

Middle East Airlines is the only commercial airline still operating out of the Beirut airport, located on the coast next to the densely populated suburbs.