00:00Well, Clara, the war in Iran is in its third week now. Which countries in Asia are feeling the most
00:07pain from this energy shock? And why is that? The Asia region as a whole is actually feeling
00:12it very acutely, especially if you compare it with the rest of the world. And that's largely just
00:17to do with the way that flows through the Middle East are directed. Of course, it won't surprise
00:25you to hear that the least economically resilient countries are the ones that are feeling the most
00:30immediate pain and that the wealthier countries can generally at least buy their way out of it in
00:37the short term. But it is both a shortage problem and a price problem at the moment. I would say
00:43India is probably having the most visible signs or at least is seeing the most visible signs. And
00:49that's because of a shortage of liquefied petroleum gas. So that's cooking gas. And it's used in India
00:54obviously as cooking gas, but also in some industrial processes. It does appear that
00:58we've had two cargoes go through the Strait of Hormuz under sort of safe passage. But that's
01:05a fraction of what India consumes. So on the ground, we've seen long queues, scuffles, and
01:11some industries under quite a bit of pressure.
01:13guys.
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