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Oil price jumps as US-Iran clashes raise odds of interest rate rises
UK NewsBusiness•July 14, 2026 at 12:24 PMNational

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

By Lauren Almeida and Julia Kollewe•The Guardian - UK News

Energy prices later stabilise after Trump abandons plan for 20% levy on traffic through strait of Hormuz Oil and gas prices jumped and expectations of interest rate rises in Europe increased on Tuesday after the US carried out a third night of military strikes against Iran.However, they later eased back after Donald Trump said he would abandon his proposal for the US to levy a 20% fee on cargo passing through the strait of Hormuz. Continue reading...

Energy prices later stabilise after Trump abandons plan for 20% levy on traffic through strait of Hormuz

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

However, they later eased back after Donald Trump said he would abandon his proposal for the US to levy a 20% fee on cargo passing through the strait of Hormuz.

Continue reading...