How will war in the Middle East affect your finances?

Higher energy prices hit UK consumers most immediately through petrol pump prices. Photograph: Neil Hall/EPA

The war in the Middle East is continuing to tighten the screw on the finances of people around the world. Stock markets have fallen and the oil price has surged over $100 a barrel for the first time in four years – fuelling fears of a new cost of living crisis.

Here is how it could affect your bills, spending and investments if you live in the UK.