Oil price jumps as US-Iran clashes raise odds of interest rate rises

Stock markets fall as analysts price in two quarter-point UK rate rises by the end of the year Business live – latest updates Oil and gas prices have jumped and expectations of interest rate rises in Europe have increased after the US carried out a third night of military strikes against Iran. Brent crude, the international benchmark for oil prices, rose by as much as 4.6% to $87.08 a barrel on Tuesday, its highest level in just over a month. Continue reading...

Lauren Almeida and Julia Kollewe · Tue, Jul 14, 2026, 4:24 AM
US news | The Guardian

Oil price jumps as US-Iran clashes raise odds of interest rate rises

Stock markets fall as analysts price in two quarter-point UK rate rises by the end of the year

Business live – latest updates

Oil and gas prices have jumped and expectations of interest rate rises in Europe have increased after the US carried out a third night of military strikes against Iran.

Brent crude, the international benchmark for oil prices, rose by as much as 4.6% to $87.08 a barrel on Tuesday, its highest level in just over a month.

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