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Does the Iran War mean the global economy is headed for crisis? And what does that mean for the cost of living and all of us? Former Chief Economist at Goldman Sachs Jim O'Neill joins Peston to discuss whether Donald Trump's war in Iran has the world on the brink of an energy crisis. They react to news of Netanyahu's Israel attacking Iran's South Pars gas field and explain what that means for energy prices, interest rate rises, Rachel Reeves's economic plans and all our living standards. Lord O'Neill also explains why some oil is still getting through the Strait of Hormuz to India and China and if what has unfolded in the Middle East really leaves Russia's Vladimir Putin as a big winner from the chaos. Peston is ITV’s flagship political programme, bringing you analysis, debates, and interview exclusives on the latest in current affairs. Watch the livestream and join the conversation: X: https://x.com/itvpeston TikTok: / itvpeston BlueSky: https://bsky.app/profile/itvpeston.bs...