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With the oil price rising again today, as attacks between Israel and Iran continue, economists are warning that the global economy faces an adverse shock, at an already difficult time for growth.
Oil prices have risen this morning, up around 1%, as the conflict between the two countries enters a fourth day.
Fears of disruption to supplies – a risk, if the Strait of Hormuz was to be closed – are making the oil price volatile. After a 7% surge on Friday, Brent crude is up another 0.5% on Monday morning at $74.60 per barrel, towards the five-month high touched early last Friday.
