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How the Iran ceasefire is changing prices | The Global Story
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.
New episodes of The Global Story are released daily. If you’re in the UK, listen on BBC Sounds. If you live outside the UK, listen on BBC.com or wherever you get your podcasts.
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00:00 Introduction
01:49 Iran ceasefire impact on shipping
03:15 What is stuck in the Strait of Hormuz?
04:06 Iranian conditions on reopening the Strait of Hormuz
05:50 Impact on Asia of the Iran War
07:07 The rising fuel prices
07:56 Why oil prices seem to drive inflation
08:51 Food inflation caused by fertiliser prices
10:31 Concerns over cost of living
12:17 Impact on global interest rates
14:35 Why the US isn’t immune to oil price rises
17:07 Who is doing well from the crisis?
18:17 Things will still take ‘months to get back to normal’
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Cyber-security experts have used AI tools to uncover a major flaw in the programming language behind many websites, known as PHP. That has led governments, businesses and other organisations around the world scrambling to fix the problem, with many sites going dark. Analysts say hackers have made millions of attempts – using AI – to try to exploit the problem.
We hear from cyber researcher Ryan Austin, who discovered the PHP flaw, and ask our tech correspondent about the power and danger of AI.
Also in the Global News Podcast:
07:23 We hear from Arab-Israeli voters – also known as Palestinian citizens of Israel – as Israel prepares for its first general election since the Hamas attacks of 7th October 2023. Polls show that neither Prime Minister Benjamin Netanyahu nor his main rivals have an easy path to forming a coalition government. That means small Arab-majority parties could hold the balance of power, depending on whom they decide to support.
The Global News Podcast brings you the best of the BBC’s news coverage and analysis from around the world.
New audio episodes of the Global News Podcast are published twice a day. You can listen here: https://link.mgln.ai/GNP-YT
And you can find more of our YouTube episodes here: https://bbc.in/GlobalNewsPodcast
If you would like to get in touch, you can email us at globalpodcast@bbc.co.uk.
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Subscribe to our channel here: https://bbc.in/bbcnews
For the latest news download the BBC News app or visit BBC.com/news
#BBCNews
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Subscribe to our channel here: https://bbc.in/bbcnews
For the latest news download the BBC News app or visit BBC.com/news
#BBCNews
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A Metropolitan Police detective who was raped by a fellow officer has told the BBC that Scotland Yard’s handling of her case was “like being raped all over again”.
Linda Williams, who has waived her right to anonymity for this exclusive interview, was attacked in 2004 by David Carrick, one of the UK’s most notorious sex offenders who was jailed three years ago for attacking Linda and other women. But she says the Met’s conduct during a subsequent civil case left her feeling suicidal.
In an unprecedented move for a serving officer, she is calling for the Commissioner, Sir Mark Rowley, to resign, and says she does not trust her own force to handle cases like hers.
The Met has paid tribute to her and says it tried to reduce her distress and re-traumatisation.
Subscribe to our channel here: https://bbc.in/bbcnews
For the latest news download the BBC News app or visit BBC.com/news
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In the centre of Albania’s capital, Tirana, thousands have been taking to the streets. The targets of the protests are not just the …
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