0:00
The average household bill could leap
0:04
pounds to nearly 2,500
0:06
pounds a year. In the last 48 hours
0:09
alone, wholesale gas prices have
0:11
skyrocketed by a staggering 93%.
0:14
What's the catalyst for this? Well, it
0:16
all comes down to the escalating
0:17
conflict in the Middle East that is
0:19
sending shockwaves through the global
0:21
economy. But why is the UK, thousands of
0:24
miles away, feeling the burn so quickly?
0:26
Well, it all comes down to Qatar. Qatar
0:28
Energy has officially halted production
0:30
at the world's largest liquid natural
0:32
gas export plant following military
0:34
attacks in the region. Since Qatar
0:36
provides nearly 14% of all European LNG
0:39
imports, the sudden disappearance of
0:42
that supply has left traders in a state
