Oil price jumps as US-Iran clashes raise odds of interest rate rises
Oil prices surged after the US launched military strikes against Iran, with Brent crude rising 4.6% to $87.08 a barrel. Financial markets now anticipate two quarter-point rate hikes in the UK by late 2023. The instability has pressured inflation, impacting bond yields and stock markets across Europe.
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Summary by OZbrief Editorial · The Guardian Australia – Business · Source
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Published 14 Jul 2026, 11:24 UTC · Updated 14 Jul 2026, 11:40 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia – Business. Editorial policy · Corrections
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