<p>The attack on Iran and its consequences have sent shockwaves around the global economy, hitting stock markets, airlines and energy supplies. UK gas prices have nearly doubled and the flow of a fifth of the world’s crude oil supply - which travels through the Strait of Hormuz in tankers - has largely ground to a halt.</p><br><p>As the ripple effect is felt across the world, how harsh will the economic fallout be, will inflation - only just under control - rise? And, with gas and oil stores in Europe limited, might there be a major energy shock ahead?</p><br><p>Presenters:</p><ul><li>Dominic O’Connell, columnist and business presenter, Times Radio</li><li>Hannah Prevett, associate business editor at The Sunday Times&nbsp;</li></ul><p><br></p><p>Guest:</p><ul><li>Richard Fletcher, business editor, The Times&nbsp;</li><li>Dr Amrita Sen, Founder and Director of Market Intelligence at Energy Aspects</li></ul><p><br></p><p>Read more: <a href="https://www.thetimes.com/business/energy/article/markets-oil-prices-iran-war-hktx5lmp7" rel="noopener noreferrer" target="_blank">Markets complacent over surge in oil price, warns analyst</a></p><br><p>Producer: Miriam Hall</p><p>Senior Producer: Julia Johnson</p><p>Executive Producer: Kate Ford</p><p>Photo credit: Getty</p><p>Get in touch: [email protected]</p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>