Episode Details

The conflict in Iran is causing a surge in energy prices, particularly for oil and gas, which are transported through the Strait of Hormuz. This has led to a significant increase in wholesale gas prices in Britain, with companies in energy-intensive industries like steel and chemicals facing skyrocketing bills. The chemicals sector has seen a 60% drop in output since 2021, with many firms struggling to cope with the high prices and looking to cheaper imports. The steel industry is also at risk, with some operations costing over £1.3 million a day to run. The situation could lead to shutdowns or reliance on supplies from China and the US.

Support the show:
Get a discount at https://solipillow.com/discount/dnn.

Advertise on DNN:
advertise@thednn.ai

This is an automated, high-level news summary based on public reporting.
Report issues to feedback@thednn.ai.

View sources & latest updates:
https://sources.thednn.ai/b1aa38666d9586e5