Donald Trump’s war with Iran is rapidly pushing up global oil and gas prices – and that means higher energy bills, fuel costs, and broader economic pressure for households look likely to follow across the UK.
The price of oil has surged past the $100 (£74) a barrel mark, reaching $106 (£79) a barrel on Monday morning, with an estimated 20 million barrels of oil per day now stranded in the Persian Gulf, as shipping vessels are unable to navigate safely through the Strait of Hormuz, the critical narrow waterway bordered by Iran.
