The gathering economic storm

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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. For our explainer on the conflict in Lebanon, listen back to our episode from March 19th: https://www.bbc.co.uk/programmes/w3ct71b5. Producers: Hannah Moore, Aron Keller and Cat Farnsworth Executive Producer: James Shield Mix: Travis Evans Senior news editor: China Collins