Listen on your podcast app: https://podcasts.apple.com/us/podcast/sky-news-daily/id951048357
“Go get your own oil.”
That’s the message from Donald Trump as tensions rise in the Middle East and the global energy system faces a major shock.
The world relies on around 100 million barrels of oil per day to keep economies running. But conflict involving Iran could mean production drops to just 80 million barrel, leaving a dangerous shortfall.
So what happens next?
Rising petrol and diesel prices
Increasing inflation and interest rates
Higher food and energy bills
Growing pressure on the United Kingdom economy
Could this trigger a wider economic crisis and is Britain already on the edge?
Niall Paterson speaks to Sky News Data and Economics Editor Ed Conway about why this crisis could have far-reaching financial consequences.
Got a question? Email the podcast: why@sky.uk
SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews
Follow us on Twitter: https://twitter.com/skynews
Like us on Facebook: https://www.facebook.com/skynews
Follow us on Instagram: https://www.instagram.com/skynews
Follow us on TikTok: https://www.tiktok.com/@skynews
For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB
Listen to our new podcast This is Why, available for free here: https://podfollow.com/thisiswhy
To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales