The Story podkast

Why oil matters: conflicts abroad, costs at home

11.03.2026
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31:21
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War in the Middle East has caused oil and gas prices to soar and sent the markets into turmoil. But why does oil still have such a powerful influence over the cost of household goods? And what has history taught us about how wars are waged when oil holds such sway?


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Guest:

  • Dr Ellen R. Wald, Ph.D., Senior Fellow at the Atlantic Council’s Global Energy Center and author of Saudi, Inc..
  • Harry Wallop, consumer journalist and Times Radio contributor.

Host: Rosie Wright

Producer: Julia Webster and Harry Stott


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Read more: Does Trump really have a plan for what he is doing in Iran?

Further listening: Could Trump lose MAGA over Iran?

Clips: Blue Georgia on X, The White House, The Economic Times, CNN, GB News, AP

Photo: Getty Images.

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