If the conflict spreads to other parts of the region especially iran, it could immediately impact well prices because even though iran has been under sections for the last two years it has pumped well quietly and provided them to customers across the globe. The white house has turned a blind eye especially with the last year or two because its been trying to smooth relationships between iran and the western world. Now if the white house enforces the sanction that means the supplier from sanction that means the supplierfrom iran could be cut off and comes at a time when oil supplies have been tightening because saudi arabia and russia, the two largest exporters of oil in the world, also part of 0pec , have been reducing Oil Production by 1. 3 alien Barrels Per Day and will keep doing it until the end of the year. There is a good chanceit the year. There is a good chance it could continue into next year as well so if this happens and they will be a where there will be less oil supply, wh
Kent beaches. Good afternoon. In the next good afternoon. In the next few moments, we are set to hear from shadow chancellor Rachel Reeves as the Labour Party Conference continues in liverpool. Well , she is expected to well, she is expected to announce much on planning and indeed borrowing. Lets go indeed borrowing. Lets go straight to liverpool and john. Our business and economics editor. Liam halligan , who is editor. Liam halligan, who is there, and liam , in terms of the there, and liam, in terms of the borrowing, of course, its got this current government into problems , but shes indicating problems, but shes indicating only borrow to invest which was Gordon Browns watchword. His golden rule. Golden rule. Thats right. Shes very much trying to present herself as as an iron chancellor, as gordon brown did. The trouble is that Rachel Reeves has got a much tougher wicket to bat on, if you like , to use a cricketing like, to use a cricketing analogy. Why is that . Thats because borrow
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