Brent crude up more than 10% amid escalation of conflict in Middle East, while stock markets fall
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The price of oil and gold has soared and stock markets have fallen after Israel’s strikes against targets in Iran.
The escalation of the conflict in the Middle East, the focal point of global oil production, prompted a sharp increase in prices, with Brent crude up more than 10% after news of the attacks broke, reaching its highest level since January.
The price later eased but was still up 5.5% at $73.12 a barrel, on course to record the biggest daily rise since 2022.
