Why the conflict in the Middle East has caused oil prices to jump. #MiddleEast #Oil #BBCNews

[0:00]The price of oil just jumped. Here's why. It's all because of this place here, the straight of Hormuz. It connects some of the biggest oil producers in the Middle East with the rest of the world, and it is critical. About 20% of the world's entire oil supply has to go through this narrow passageway. But right now, traffic has come to a virtual standstill because of the war between Iran and the US and Israel. You've already had some vessels being attacked and with missiles flying overhead, it's just too risky for ships to cross. And when so much oil can't get to its destination, then you have less supply and that's when prices start going up. For now, your energy bills and petrol prices will probably stay the same. It takes a while for these things to have a knock-on effect. But the longer this goes on, days, maybe even weeks, that's when the price of oil could really start spiking. And that's when some of the things you buy might start getting more expensive.