Why oil matters: conflicts abroad, costs at home

Why oil matters: conflicts abroad, costs at home

Author: The Times March 11, 2026 Duration: 31:21

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?


Our listener survey is live - find it here.


This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.com/thestory


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


We want to hear from you - email: thestory@thetimes.com


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.

This podcast was brought to you thanks to subscribers of The Times and The Sunday Times. To enjoy unlimited digital access to all our journalism subscribe here.


Hosted on Acast. See acast.com/privacy for more information.


Each morning, The Story arrives with a clear purpose: to move beyond the headlines and explore the forces and people shaping our world. Guided by the experienced reporting of Manveen Rana and Luke Jones, this daily podcast from The Times delves into the most significant political developments and news events with a level of depth and context that only their global network of journalists can provide. You’ll hear more than just summaries; you’ll get a nuanced understanding of why a story matters, who it impacts, and what might happen next. The analysis is sharp and the storytelling is compelling, designed to fit into your morning routine seven days a week. It’s a direct line to the frontline reporting and editorial expertise of one of the world’s most respected news organizations. This consistent, in-depth approach makes the podcast a reliable resource for anyone looking to truly comprehend the day’s events. Supported by readers of The Times and The Sunday Times, the production maintains a commitment to journalistic integrity and thorough exploration, ensuring every episode provides substance and clarity.
Author: Language: English Episodes: 100

The Story
Podcast Episodes
People are betting on war. Here’s why it matters [not-audio_url] [/not-audio_url]

Duration: 32:50
Polymarket and Kalshi have become two of the fastest-growing online platforms in the prediction market, hosting bets where people can wager on the outcome of events, including on the conflict in Iran. But some observers…
Q&A: What we know (and don't know) about Trump's Iran talks [not-audio_url] [/not-audio_url]

Duration: 31:36
As the war with Iran rumbles on, are ceasefire talks back on or is that ‘fake news’? What’s in America’s 15 point peace plan? Could an Iranian missile reach the UK? And how long can Iran keep fighting? Hosts Manveen Rana…
INVESTIGATION: On the line - Whack-a-mole [not-audio_url] [/not-audio_url]

Duration: 32:27
In the final episode of our county lines series, we hear how county lines drug gangs are continuing to shift their business model to avoid detection. Policing minister, Sarah Jones, explains how the government is plannin…
INVESTIGATION: On the line - Mike [not-audio_url] [/not-audio_url]

Duration: 34:33
Mike started selling drugs for a county lines gang when he was just a teenager. After being arrested and getting stabbed, he left that life behind. But he's been willing to share his experiences with The Times’ crime edi…
INVESTIGATION: On the line - the loophole [not-audio_url] [/not-audio_url]

Duration: 37:12
Children aren't just running drugs for county lines gangs - sometimes they're running the lines themselves.Today The Sunday Times's northern editor David Collins talks to the police officers who worry laws designed to pr…
INVESTIGATION: On the line - the never-ending battle [not-audio_url] [/not-audio_url]

Duration: 26:04
Today we go inside Operation Titan, as North Yorkshire Police fight back against county lines drugs gangs. But with each line the police shut down, another pops up in its place, sometimes within days. The Sunday Times' n…
INVESTIGATION: On the line - a family business [not-audio_url] [/not-audio_url]

Duration: 31:08
Part one of a five-part special investigation into county lines drug dealing, running in audio, video, print and digital from The Times and The Sunday Times.Today we reveal how police took down the family controlling the…
The world is looking for the Kinahan drug lords. We found them [not-audio_url] [/not-audio_url]

Duration: 29:54
After years in hiding, The Sunday Times has obtained images of Christy and Daniel Kinahan, leaders of the all-powerful Kinahan cartel, living freely in Dubai. They are some of the most wanted criminals in the world. So w…
Kent's meningitis outbreak - how it exploded, can it be stopped? [not-audio_url] [/not-audio_url]

Duration: 30:00
What began as an evening out at a nightclub in Kent has rapidly spiralled into a "super-spreader" event that has left doctors stunned and two young people dead. This surge in Meningitis B cases has triggered a public hea…
Inside Lebanon as Israel and Hezbollah wage war [not-audio_url] [/not-audio_url]

Duration: 31:40
On Monday, Israel announced it's preparing a ground offensive into Lebanon. Fighting between the Israeli military and Hezbollah, an Iranian proxy group, has ratcheted up since the death of Iran’s supreme leader more than…