soared crude oil prices have soared over the past 2a hours on fears that hostilities may escalate and also destabilise a region that accounts for around a third of global oil supply. at the moment the benchmark cruises up by 4.34% as we speak and it is a story we will continue to track through the numbers as well, but yesterday it had spiked by more than 4% after hamas launched the largest military assault on israel in decades. the bbc�*s east business correspondence explains why investors are nervous presently about a long drawn out war in the region. there are two leaky concerns. there are two leaky concerns. the first one is that even though israel is not a major player when he comes to oil supplies, the worry is that if this conflict spread to other parts of the region, especially iran, then that could have an impact on oil prices because even though iran has been under sanction for the last few years, it has been pumping oil quietly and providing them too

many customers across the globe will subdue white house has chosen to turn a blind eye, especially over the last year or two years, because it has been trying to smooth relations between iran and the western world, but now if the white house decides to enforce those sanctions, that would mean that the supply from iran would be cut off and this would come 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 opec plus can have collectively been producing oil production by 1.3 million barrels by day since july and will continue doing it until the end of year. there is a good chance it may continue into the next year as well for so this happens, there will be a scenario where there will be lesser oil supply, a scenario where there will be lesser oilsupply, more a scenario where there will be lesser oil supply, more demand and that would lead to higher prices. and that would lead to higher rices. �* ., ., ., prices. and even though ma'or oil-producing d prices. and even though ma'or oil-producing nations i prices. and even though ma'or oil-producing nations are fl prices. and even though major oil-producing nations are not i oil—producing nations are not directly involved in the conflict, we are still seen this kind of volatility in oil prices. to discuss that, i spoke to someone who covers

crude oil markets in the middle east and, and she told me that despite all mac the spike we saw yesterday in prices may have been an immediate l mac kneejerk reaction to the conflict. i kneejerk reaction to the conflict-— kneejerk reaction to the conflict. ~ . conflict. i think the main reason is _ conflict. i think the main reason is there - conflict. i think the main reason is there is - conflict. i think the main reason is there is some l conflict. i think the main . reason is there is some fear that what is happening, there could be a fallouts to the rest of the middle east country so i think that is the reason we have seen the reaction immediately as we open yesterday in asia time. it is in no way a bit of a kneejerk reaction, but it is based on fears that it could escalate —— it is, in a way, a bit of a kneejerk reaction for stub whether, as your colleague mentioned, could iran face repercussions, the us increasing the sanctions on iran if they think iran was involved, and that could impact production or exports, so that has been a key thing right now

thatis has been a key thing right now that is pushing prices up. is there anyway that oil importing nations can really insulate themselves against this instability that we are seeing instability that we are seeing in the short term, very unlikely. it in the short term, very unlikely-— in the short term, very unlikel . , ., ., ., unlikely. it is hard to turn to something _ unlikely. it is hard to turn to something else _ unlikely. it is hard to turn to something else of _ unlikely. it is hard to turn to something else of an - something else of an alternative. even if they wanted to increase their gas usage, for power generation, it is not something you can immediately turn to. unfortunately, for a lot of the consuming countries, they do have to take it and hope the prices do not go even higher, because obviously they would be worse affected if prices do go up worse affected if prices do go up to $90, $100, if it doesn't. how about 0pec and other producers? how do you see them managing the current situation? it is a developing situation, but how do you see the managing terms of pricing and output? right now the oil markets, in terms of supply, it is tight, yes, but it is tight because of voluntary cuts by mainly saudi arabia, so in the last couple

of months, sincejuly, saudi arabia has reduced its production by1 million barrels per day, so if you look at it practically, and we are assuming that the events do not escalate and do not spread across the middle east, there is still the possibility that, should it be needed, saudi arabia would probably put back a million barrels per day into the market. so if you just look at your numbers, demand and supply, at your numbers, demand and supply, there is a little bit of a buffer in that sense. we are keeping _ of a buffer in that sense. we are keeping a _ of a buffer in that sense. we are keeping a very close watch on the political invocations as well as the economic fallout of the conflict that is unfolding. we are going to switch focus and if you some news coming out on the china front, where a us delegation for both republicans and democrats are visiting the

country to advance economic as well as national security interests. as tensions between the two countries keep rising, both sides are paving the way for a possible meeting between us presidentjoe biden as well as president xijinping in november at the apex summit in california. beijing officials have been trained to get the worlds second largest economy back on track and have hopes that the recent bank holiday that the recent bank holiday that we've been talking about have pointed its recovery in the right direction. 0ver have pointed its recovery in the right direction. over the eight—day holiday period, those who could aid nearly 12 million trips, for domestic as well as international travel, but it is not yet a full recovery from the pre—pandemic days, but it is 85% recovery rate, prompting several economies to be hopeful and optimistic of an improved outlook for the world's second largest economy for on that, earlier, i spoke to a china watcher and asked him what the latest figures really mean. it is not super—strong but you have to remember where we were

a few months ago, earlier in the summer, where it really looked like the consumer recovery in china was fizzling out. and possibly could even go into reverse. relative to that, it is deftly encouraging that we are seeing renewed momentum in terms of consumer spending, domestic tourism, and that comes on the back of broader signs of this improvement as well. stronger retail sales data last month, we are seeing credit growth bottom out and seeing a step up in fiscal support, so i think on balance, we are seeing signs that maybe we are seeing signs that maybe we are seeing signs that maybe we are past the worst for the chinese economy. 50 we are past the worst for the chinese economy.— we are past the worst for the chinese economy. so would you sa this chinese economy. so would you say this is _ chinese economy. so would you say this is also _ chinese economy. so would you say this is also your _ chinese economy. so would you say this is also your flesh - chinese economy. so would you say this is also your flesh and i say this is also your flesh and of consumer confidence returning as well? yeah, i think we _ returning as well? yeah, i think we are _ returning as well? yeah, i think we are starting - returning as well? yeah, i think we are starting as i think we are starting as consumers be lit less cautious —— you think this also reflects? 0ne —— you think this also reflects? one reason for that is actually the labour market has held up pretty well. there's been a lot of attention paid on the very high level of

used on implement in china, but thatis used on implement in china, but that is a relatively narrow part of the workforce, just 6% of the workforce. look at the overall unemployment rate, it is down a lot since last year. it is not particular high by historic standards on some of the survey —based evidence, suggesting it continues to decline more recently. i think that resilience in the labour market is perhaps underpinning a bit more confidence among consumers and a greater willingness to spend as well and travel.— and travel. can china really hit that 596 _ and travel. can china really hit that 596 growth - and travel. can china really hit that 596 growth target . and travel. can china really i hit that 596 growth target the hit that 5% growth target the government has set for this year? it government has set for this ear? . , government has set for this ear? ., , ., ., ~' government has set for this ear? ., , ., ., “ “ year? it was looking like it would be _ year? it was looking like it would be challenging - year? it was looking like it would be challenging for. year? it was looking like it i would be challenging for next year, but now from the latest data we are seeing, it is still within reach.— data we are seeing, it is still within reach. let's take a look some other — within reach. let's take a look some other news _ within reach. let's take a look some other news headlines i within reach. let's take a look. some other news headlines now. american chemical claudia goldin has been rewarded the nobel economic prize for her work on women's implement and pat’- work on women's implement and pay. she currently teaches labour market history at harvard university for the royal swedish academy of

science etc research advanced our understanding of women's labour market outcomes. she is the third woman to receive the prize and the first to not share the award with male colleagues. some milik tronics excess its third—quarter profit is expected to drop 80% from a year earlier due to an ongoing global chip cut. the worlds biggest maker of memory chips, smartphones and televisions will publish its third—quarter preliminary earning results on wednesday after first announcing an output cut in april and phyllis said to samsung more production in the third quarter to reduce inflation and weather the worst industry downturn in decades. shares of the weight loss company weight watchers have jumped after its board member and most famous spokesperson 0prah and most famous spokesperson oprah winfrey clarified earlier comments to embrace popular weight loss drugs. 0ur comments to embrace popular weight loss drugs. our next all this up with a partial comment. —— a little. when 0prah this up with a partial comment. —— a little. when oprah winfrey

said simple don't weight loss drugs seem like an easy way out, investors raised eyebrows and shares of weight watchers fell 15% of the company built its success on dieting and counting points for foods eaten. investors want to know whether the company can position itself to ride the wave. in a statement to the wall streetjournal, miss winfrey said that her comment was misconstrued and taken out of context. she called prescription weight loss medication and important and viable option for people struggling with their weight and health. with that, shares of weight watchers internationaljumped, closing international jumped, closing up international jumped, closing up 13% at internationaljumped, closing up 13% at the end of trading on monday. shares have been on the upswing since weight watchers paid more than $100 million to acquire the, company that allowed it to... that is it on this edition of asia business report. you can track much more on the bbc website and the big story continues to be the conflict

there in israel as well as gaza, so we will have more updates on that head on bbc news. thanks for watching. bbc news — bringing you different stories from across the uk. i suppose getting towards the end of my pr in london career, i thought, "where shall i go? "what shall i do to earn my living?" and one of the things i really enjoyed was gardening. so i went to college. the garden monique has created here has just been accredited by the organisation which sets the global standard for botanic gardens. it's among just ten in the uk. it gives you that recognition that you've achieved a level that means that you — it's hard to describe — that you are as best as you can be.

botanic gardens, or whether you're a national collection holder, you are merely guardians and you're here to preserve what nature has provided for future generations. trees are the focus of a series of events at the garden this month called arbour. and it's really a celebration of trees and what trees give us and how trees inspire us, how they shelter us, how they feed us. am i a crazy tree person? yes. hey, i'm zof with the catch up. tonight, euro 2028 hosts set to be revealed, big brother returns and an early halloween surprise. but first, you'll probably have seen the distressing news concerning conflict in the middle east. it's happening on the border of israel and gaza, which were hit on saturday. a lot has happened over

the past couple of days, so let's try and break this down for you so far. more than 900 people have been killed in israel since the initial attack by militant group hamas. they include 260 people at a music festival. more than ten british citizens are feared dead or missing in israel. israel has retaliated by bombing gaza, who say nearly 600 people there are dead. this is the moment hamas arrived in vans at the supernova music festival, where they quickly began shooting at people. some other stories now. the uk and ireland will be announced as the hosts of the 2028 european championships at a uefa meeting in switzerland on tuesday. the original five—nation bid is now running unopposed after turkey withdrew from the process last week. and the iconic big brother has returned to our tv screens after five years,

and the first episode on sunday evening was watched by more than 2.5 million people. i am super excited, to be fair, just to see how the drama unfolds in the coming weeks. and time now for ten seconds of smashing pumpkins. that's right, halloween is, of course, looming. the oregon zoo has celebrations by offering pumpkins to all the different animals. as you can see here, they are delighted for the early celebration. that is super adorable. you're all caught up now. see you later.

hello and welcome along to sportsday. i'm sarah mulkerrins. coming up on the programme: the winning start continues — another comfortable victory for new zealand at the cricket world cup. carlos alcaraz has to work hard against dan evans to make progress in shanghai. and a double for matt fitzpatrick, as his mum helps him take two titles at st andrews.

you're very welcome along to the programme. let's start, then, with the cricket world cup, where another convincing display from new zealand saw them make it two wins from two to maintain their perfect record. they beat the netherlands by 99 runs, following up from their victory over champions england in their opener. drew savage has this report. new zealand impressed in their first game against england, while the dutch had given pakistan a fright in theirs. but the crowds in hyderabad largely stayed away. they missed more quality kiwi batting. devon conway and will young got on top of the game from the start. rachin ravindra also impressed. seven different players hit a six — it's eight years since a team last did that at a world cup. a late flurry from mitch santner helped set the netherlands a target of 323, which they've never managed in a 50—over game. and the dutch found themselves penned in by the new zealand bowlers, santner leading the way.

the men in orange had to hit out — but