Global News Podcast Iran war: Oil prices soar
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Mar 9, 2026 
Katie Watson reports on safety fears for Iran’s women’s football team in Australia. James Landale explains Ukraine’s anti‑drone tech and plans to send experts to the Gulf. Kalkadan Yebatal describes mass displacement and worsening humanitarian needs in South Sudan. Merlin Thomas analyses video and satellite evidence of a missile strike on a school.
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Strait of Hormuz Disruption Sends Oil Above $100
- Global oil prices jumped above $100 a barrel as the US-Israel war with Iran disrupted shipments through the Strait of Hormuz.
- Anna Foster and Theo Leggett show clustered tankers stuck either side of the strait and G7 talks about emergency reserve releases affecting short-term prices.
Oil Spike Transmits Quickly Into Inflation
- Higher oil and gas prices feed directly into inflation via increased factory energy, transport and household heating costs.
- Theo Leggett links LNG flows through Hormuz and UK electricity pricing to show how sustained oil spikes raise living costs.
Sanctions Loopholes Ease Russia's Oil Revenues
- Easing sanctions or tacit allowances can let sanctioned suppliers like Russia sell more oil and blunt sanctions' economic pain.
- Theo Leggett notes the US withdrew threats to punish India for buying Russian oil, easing Russia's ability to sell.