Why oil matters: conflicts abroad, costs at home

War in the Middle East has caused oil and gas prices to soar and sent the markets into turmoil. But why does oil still have such a powerful influence over the cost of household goods? And what has history taught us about how wars are waged when oil holds such sway?

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Guest:

• Dr Ellen R. Wald, Ph.D., Senior Fellow at the Atlantic Council’s Global Energy Center and author of Saudi, Inc..
• Harry Wallop, consumer journalist and Times Radio contributor.

Host: Rosie Wright

Producer: Julia Webster and Harry Stott

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Clips: Blue Georgia on X, The White House, The Economic Times, CNN, GB News, AP

Photo: Getty Images.

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