The gathering economic storm
The Iran war has made oil and gas prices volatile. Will the ceasefire bring stability?
An episode of the The Global Story podcast, hosted by BBC World Service, titled "The gathering economic storm" was published on April 10, 2026 and runs 26 minutes.
April 10, 2026 ·26m · The Global Story
Summary
One condition of the US and Israel’s two-week ceasefire agreement with Iran is that ships must be able to safely use the Strait of Hormuz, the route through which approximately 20% of the world’s oil and liquified natural gas supplies travel. In theory, the deal should cut the prices of fuel worldwide, as well as allowing essential supplies of fertiliser, helium and other goods to reach businesses. But the fragility of the ceasefire is leaving markets uncertain, and prices remain volatile. Will the ceasefire eventually help lower costs? And if so, when? Sean Farrington, presenter of the BBC’s Wake Up To Money, joins us to explain. For our explainer on the conflict in Lebanon, listen back to our episode from March 19th: https://www.bbc.co.uk/programmes/w3ct71b5. Producers: Hannah Moore, Aron Keller and Cat Farnsworth Executive Producer: James Shield Mix: Travis Evans Senior news editor: China Collins
Episode Description
One condition of the US and Israel’s two-week ceasefire agreement with Iran is that ships must be able to safely use the Strait of Hormuz, the route through which approximately 20% of the world’s oil and liquified natural gas supplies travel.
In theory, the deal should cut the prices of fuel worldwide, as well as allowing essential supplies of fertiliser, helium and other goods to reach businesses. But the fragility of the ceasefire is leaving markets uncertain, and prices remain volatile.
Will the ceasefire eventually help lower costs? And if so, when? Sean Farrington, presenter of the BBC’s Wake Up To Money, joins us to explain.
For our explainer on the conflict in Lebanon, listen back to our episode from March 19th: https://www.bbc.co.uk/programmes/w3ct71b5.
Producers: Hannah Moore, Aron Keller and Cat Farnsworth
Executive Producer: James Shield
Mix: Travis Evans
Senior news editor: China Collins
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