Stories

Thu, 10 Sep 2026

Thu, 10 Sep 2026 Oil, gas and borrowing costs surge as fears over Middle East escalate

The price of oil jumps to $105 a barrel amid signs the Iran war will not be resolved quickly.

*Brent crude surpasses $100 a barrel, with analysts warning of economic impact
*Global borrowing costs surge to highest levels in decades
*Energy prices and higher borrowing costs put pressure on financial markets
*UK natural gas price hits 200p a therm for first time since end of 2022
*Concerns over shipping disruptions due to Yemen's port seizure by Iran-aligned Houthi forces
*Increased energy costs raise fears of inflation spike and impact on household bills.