Oil prices have continued to rise in the wake of the renewed conflict between Iran and the United States.

Oil prices soared sharply on Monday as the Middle East was once again embroiled in chaos. Crude prices jumped 4% as fresh military action between Iran and the United States…

Escalating tensions between the U.S. and Iran have knock-on effects for inflation expectations and as a result, the trajectory of the base rate, notes Goldman Sachs.