"With the Strait of Hormuz still at a standstill and the blockade impeding fresh talks between Iran and the US, the prospect of a serious energy crunch is causing fresh jitters."
"The benchmark, Brent Crude has jumped to trade around $103 a barrel, reflecting concern about the lack of prospects for shipments from the region to resume any time soon."
Brent crude oil prices exceeded $103 a barrel amid concerns over stalled negotiations in Iran and renewed tanker attacks, raising fears of global energy supply disruptions. This increase in oil prices negatively affected equities, particularly the FTSE 100, which fell as investors reacted to potential inflation and weakened growth. Retail stocks suffered, with J Sainsbury plc warning of rising costs and reduced consumer demand. Despite market volatility, UK public sector net borrowing decreased, providing some fiscal relief, while a new retail investing campaign was launched amid ongoing geopolitical instability.
Read at London Business News | Londonlovesbusiness.com
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