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Global oil prices surge again

Amid the ongoing conflict in Ukraine, the price of oil crossed the $130 a barrel mark.

Amid the ongoing conflict in Ukraine, the price of oil crossed the $130 a barrel mark. Whilst prices subsequently fell back, traders are concerned about the possibility of a Western ban on the import of oil from Russia, and we explore the implications of such a move with Livia Gallarati from Energy Aspects in London. Also in the programme, over the weekend, card payment providers Mastercard, Visa and American Express said they were ending operations in Russia as a result of its invasion of Ukraine. We find out what impact it is likely to have, and whether there may be unintended consequences, from Paola Tamma, who is a reporter at Politico Europe. Ukraine and Russia are major suppliers of grains and the ingredients for fertiliser. The 大象传媒's Tamasin Ford examines the possible consequences of the conflict in Ukraine when it comes to global food security. Plus, as many people book AirBnB's in Ukraine that they don't intend to stay in, as a means of supporting people in the country, there are signs of a similar trend for users of the crafting marketplace Etsy. We hear from someone named Halyna in Ukraine who has seen an unexpected surge in interest around the world in a digital download of artwork from her Etsy store, in the wake of recent events.

Today's edition is presented by Rob Young, and produced by Will Bain, Sara Parry and Nisha Patel.

(Picture: A tanker full of Russian oil. Picture credit: Getty Images.)

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27 minutes

Broadcast

  • Mon 7 Mar 2022 15:32GMT