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Iran: The Latest Podcast
China steps in as Iran war drains US oil reserves to 40-year low

China steps in as Iran war drains US oil reserves to 40-year low

Iran: The Latest vor 1 Monat

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Iran: The Latest

395 Episoden

The Telegraph’s defence, security and foreign affairs podcast covering the conflict in Iran

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As Donald Trump’s Iran war drags on and hostilities continue in
the Strait of Hormuz and Red Sea, global energy markets are being
reshaped - not by OPEC or the US, but by China.

On today’s episode of Iran: the Latest, Venetia Rainey talks to
world economy editor Ambrose Evans-Pritchard about how Beijing
has weaponised its internal oil demand to keep oil prices stable
and bypass Saudi Arabia, even as US Strategic Petroleum Reserves
have plunged to their lowest level since 1983. Why have oil
prices remained largely stable and are those figures masking
underlying economic turmoil?

Plus: how the blockade of the Strait of Hormuz is pushing Iraq to
the brink of total economic collapse and the worrying news of a
recent Pew Survey measuring attitudes towards the US vs
China.

Highlights

Iran war drains US strategic petroleum reserves to 40-year
low

How Beijing has kept oil prices stable and bypassed Saudi
Arabia

CONTRIBUTORS:

Venetia Rainey, co-host and executive producer @venetiarainey

Ambrose Evans-Pritchard, world economy editor

WATCH US ON YOUTUBE:
https://www.youtube.com/playlist?list=PLJnf_DDTfIVAif-vifC6F2aoPB8GIw6dk

CONTENT REFERENCED:

Ambrose Evans-Pritchard: Trump’s eternal March of Folly on Iran

https://www.telegraph.co.uk/business/2026/07/31/trumps-eternal-march-of-folly-on-iran/

Trump targets Iran’s economy as military campaign falters

https://www.telegraph.co.uk/us/politics/2026/08/12/trump-scott-bessent-end-iran-war/

Iran war threatens to cripple growth, Treasury warns Burnham

https://www.telegraph.co.uk/business/2026/08/12/iran-war-threatens-to-cripple-growth-treasury-warns-burnham/

Winner Best News and Analysis Podcast - Publisher Podcast Awards
2026

Nominated Podcast of the Year - Society of Editors News Podcasts
Awards 2026

Nominated Best News, Politics and Current Affairs - British
Podcast Awards 2026

The Telegraph, Winner Podcast Publisher of the Year 2026 -
Publisher Podcast Awards 2026

Producer: Peter Shevlin

Video Producer: Max Bower

Researcher and Social Producer: Anna Hindmarsh

Studio Operator: Andy Watson

Executive Producer: Venetia Rainey

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EMAIL US: Contact the team on battlelines@telegraph.co.uk

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