Oil prices have surged in the biggest single-day spike in six years, passing $100 a barrel for the first time since 2022, as the war in the Middle East continues.
UK Prime Minister Keir Starmer has warned that the longer the conflict in Iran goes on, the more likely the potential impact will be on Britain's economy.
Business commentator Declan Curry says disruptions to the flow of oil caused by the war are resulting in prices jumping:
IN: At one stage…
OUT: …oil and gas installations.
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The UK's FTSE 100 index fell sharply on opening Monday morning.
British Prime Minister Keir Starmer has pledged to protect households from rising costs, and says he is monitoring the situation:
IN: On the reassurance…
OUT: …within the economy.
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