B2 – Upper Intermediate
Oil prices have recently gone up after reports of an attack on Iran. The explosions were heard in the city of Isfahan, and some countries believe that Israel was responsible. Although there was no serious damage, the news caused fear that conflict in the Middle East might grow.
When there is tension in this region, it often affects energy prices around the world. This is because many important oil-producing countries are located there. After the news, the price of oil and gas increased quickly in different parts of the world, including Europe.
Read this article to learn why this attack matters, how it affected energy prices, and what could happen next.
https://www.bbc.com/news/articles/cg5vr2rvzg4o
Vocabulary Questions:
- What does “price cap” mean? “The energy regulator, Ofgem, has already announced the energy price cap for July until September.” Make a sentence with this phrase. Give a synonym.
- What is “household bill“? “Craig Lowrey, principal consultant at Cornwall Insights, says household bills are safe from any volatility for now. But if this conflict continues past September, household bills could rise.” Make a sentence with this. Give a similar expression.
- What does “financial buffer” mean? “”Many rely heavily on Middle Eastern oil and gas imports and lack the financial buffers to absorb sudden price spikes.”” Use this in a sentence. Give a similar expression.
Discussion Questions:
- Do you think it’s fair that people in peaceful countries pay more when this happens? Explain your thoughts.
- How could rising oil prices affect your country or your personal life?
- How does war or conflict in one place affect the whole world today?
- Do you think oil prices should be controlled by the government? Why or why not?
- Do you think news reports make people too afraid during international conflicts? Why or why not?