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Panic Spreads - Joe Blogs
Oil prices have surged as the war in Iran escalates and global energy supplies come under increasing pressure.
The Strait of Hormuz — one of the most important oil shipping routes in the world — has effectively become closed to large parts of international shipping, disrupting global supply and sending shockwaves through financial markets.
Stock markets have started to fall as investors react to the surge in energy prices and the growing risk that the conflict could escalate further.
In this video I explain what is driving the latest surge in oil prices, why the disruption to Middle East supply is so significant, and how this could impact inflation, interest rates and the global economy.
If the war continues and oil supplies remain disrupted, the economic consequences could be severe.