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.

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?

Presenters:

• Dominic O’Connell, columnist and business presenter, Times Radio
• Hannah Prevett, associate business editor at The Sunday Times 

Guest:

• Richard Fletcher, business editor, The Times 
• Dr Amrita Sen, Founder and Director of Market Intelligence at Energy Aspects

Read more: Markets complacent over surge in oil price, warns analyst

Producer: Miriam Hall

Senior Producer: Julia Johnson

Executive Producer: Kate Ford

Photo credit: Getty

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