I’m no expert, but if the Arab countries team up against Israel, that will drag the US into it for sure. Likely Europe/UK as well.
Then only 2000km away, Russia and Ukraine are still at war.
I believe this would partially isolate Europe economically from the rest of the world (depending on what Turkiye decides to do) because trade routes would be blocked. This might cause China and India to get involved as well because their economies depend on trade and production.
Gas prices would obviously sky-rocket along with the prices of everything else.
Because of tensions between multiple countries, it’s unlikely it would be Team A vs Team B. There would be at least 3 different ally groups all fighting each other.
I’m really extrapolating here, and this is just one worst case scenario out of millions.