How the Iran conflict could affect prices around the world

Oil markets have had some of the steepest price rises ever recorded as conflict in the Middle East escalated over the last week. Although the world is slowly becoming greener, fossil fuels are still the lifeblood of every economy so when oil and gas prices rise, the effect ripples through almost every aspect of our financial lives. Jillian Ambrose, energy correspondent for the Guardian, explains how the conflict may affect global costs