The Middle East conflict, along with soaring oil and gas prices, are likely to slow the Swiss economy and accelerate inflation, according to projections from UBS bank economists. +Get the most important news from Switzerland in your inbox If the war between the United States and Iran drags on, oil prices are likely to soar above $150 a barrel, reviving fears of recession. “The increase in the price of petroleum products (such as petrol and heating oil) is currently costing Swiss consumers around CHF170 million a month. This corresponds to less than 0.5% of their expenditure,” stated Alessandro Bee and Matteo Mosimann in a study published on Tuesday. + Read about our coverage of the Middle East conflict Faced with soaring prices at the pump, “consumer morale suffered in March and April, falling to its lowest level for almost two and a half years. On the other hand, the rise in oil prices has so far had little impact on industrial morale”, they added. With the prospect of an imminent …