UK Approves US Strikes on Iran, Energy Prices Soar

0:00On March 20, UK Prime Minister Keir Starmer has cleared the United States to launch strikes from British bases against Iranian missile sites, blocking the strait of Hormuz. This key waterway carries one-fifth of the world's oil and gas shipments, now stalled by the conflict. The approval covers B-52 bombers and other planes operating out of ARIA Fairford in Gloucestershire and Diego Garcia in the Indian Ocean. Officials say it falls under an existing deal for collective self-defense in the region. Meanwhile, the UK cabinet has strongly condemned Iran's attacks on international shipping, including vessels from allies and Gulf partners. They warned these actions could deepen the regional crisis and hit economies worldwide. Energy prices have surged, with oil nearing $118 a barrel, after strikes damaged Qatar's main gas facility, facing 3-2. Five years of repairs, UK household bills could jump $332 to $1,973 annually, come July.

1:02The international energy agency urges demand cuts, like more work from home, public transport, and lower speed limits to ease the strain. As tensions simmer, governments watch closely for broader fallout on daily life and markets.