How the Iran conflict could affect prices around the world

Oil markets have had some of the steepest price rises ever recorded as conflict in the Middle East escalated over the last week. Subscribe to Guardian News on YouTube ► https://www.youtube.com/user/guardianwires?sub_confirmation=1 Although the world is slowly becoming greener, fossil fuels are still the lifeblood of every economy so when oil and gas prices rise, the effect ripples through almost every aspect of our financial lives. Jillian Ambrose, energy correspondent for the Guardian, explains how the conflict may affect global costs. Oil prices ‘could breach $100 a barrel within days’ amid supply disruption from Iran war ► https://www.theguardian.com/business/2026/mar/08/oil-prices-supply-disruption-iran-war-goldman-sachs The Guardian publishes independent journalism, made possible by supporters. Contribute to The Guardian today ► https://support.theguardian.com/ Sign up to the Guardian's free new daily newsletter, First Edition ► http://theguardian.com/first-edition Website ► https://www.theguardian.com Facebook ►https://www.facebook.com/theguardian Instagram ► https://instagram.com/guardian Bluesky ► https://bsky.app/profile/theguardian.com The Guardian on YouTube: The Guardian ► https://www.youtube.com/@theGuardian Guardian Australia ► https://www.youtube.com/@GuardianAustralia Football Weekly podcast ► https://www.youtube.com/@FootballWeeklyPodcast Guardian Football ► https://www.youtube.com/@guardianfootball Guardian Sport ► https://www.youtube.com/@guardiansport It's Complicated ► https://www.youtube.com/@itscomplicated Guardian Live ► https://www.youtube.com/@GuardianLive #iran #iranwar #oil #iranoil #straitofhormuz #economy #oilprices