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Evening Standard

Holly Williams

Oil prices surge further and markets slump as Middle East war intensifies

Oil Middle East Iran United States Donald Trump Susannah Streeter

Oil prices have risen further as the Middle East war extended into a fourth day (Kirsty O’Connor/PA) - (PA Archive)

Oil prices have risen further as the Middle East war extended into a fourth day, sending stock markets tumbling across the UK and Europe on fears of a prolonged conflict.

Brent crude rose by another 4% on Tuesday to stand at a one-year high of nearly 81 US dollars a barrel, after Iran took action to block a crucial shipping route for crude tankers, while London’s FTSE 100 Index fell sharply lower, down more than 2% in early trading.

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