Reality Check: Oil crisis – the worst we’ve ever seen?

Oil prices surged past $100 per barrel as the war with Iran intensified over the weekend. With the Strait of Hormuz practically closed, and without a solution to the severe disruption in crude oil flows, how hard could Britain be hit? And why has the UK left itself so vulnerable with its energy policy?

Michael Simmons is joined by Tyler Goodspeed – former adviser to Donald Trump – to discuss why this situation has far greater consequences than Trump’s tariffs, how petroleum is so embedded in our everyday economy and why Ed Miliband could be heading for a 'Liz Truss situation'.

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