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How can UK handle economic storm following Iran war? | Politics Hub with Ali Fortescue
Posted
March 19, 2026
Views
11,398
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March 19, 2026
11,398
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35:36Now PlayingJoin Politics Hub with Ali Fortescue for a fast-paced daily dissection of what’s happening in Westminster.
Oil and gas prices have surged - including in the UK - after strikes on facilities in Iran and Qatar at the world's largest natural gas field. It started when Israel attacked Iranian facilities in Iran's section of the South Pars field. Iran then retaliated at Qatari sites.
President Trump has threatened to "massively blow up" Iran's major gas field if Tehran attacks Qatar again.
Meanwhile, The Bank of England has held the base rate at 3.75%.
The decision was widely expected after conflict in the Middle East erupted at the end of last month, sparking concerns that inflation could be pushed upwards and diminishing any previous hopes of a rate cut.
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