Could the Iran war trigger a global economic crisis? | The Latest

Описание: Global oil and gas prices have spiked as the conflict in the Middle East halts energy exports from the region.
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The strait of Hormuz has been in effect closed since the war began, causing fears of a global economic crisis.

About a fifth of the world’s oil is shipped through the narrow passage of water, but, according to reports, traffic has dropped by about 80%, with little sign of return.

How long until we feel the effects? Nosheen Iqbal speaks to John Collingridge, the Guardian’s head of business.

Chapters:
00:00 - Introduction
00:35 - How have markets been responding to Middle East turmoil?
02:04 - Why is the Strait of Hormuz so vital to the global economy?
03:05 - Is anything able to pass through?
04:00 - Iran warning to ships wanting to pass
04:40 - Why do oil and gas prices matter so much?
05:40 - How bad could it get for global economy?
07:16 - What impact will this have on the US?
08:20 - How does this end?
09:00 - Who are the winners from this conflict?

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