FTSE pares some of its losses with oil back to $100 as naval blockade of Strait of Hormuz begins - MARKETS LIVE
Stocks opened the week in the red as oil jumped above $100 a barrel after Donald Trump announced a blockade of the Strait of Hormuz.The relief seen across markets last week after the announcement of peace talks has vanished after talks broke down over the weekend.Now, the US President has threatened to block the key Gulf waterway. In a Truth Social post, Trump said: ‘Any Iranian who fires at us, or at peaceful vessels, will be BLOWN TO HELL!’ and ‘our Military will finish up the little that is left of Iran!’The blockade, which will began at 3pm BST, will target ships entering and exiting Iranian ports.Brent crude jumped as much as 9 per cent to above $100 a barrel amid fears of a prolonged conflict and its impact on fuel supply. It ended last week at around $95.Stagflation now 'inevitable' and recession risks risingStocks rebound as oil falls back to $100 US stocks slip with oil above $100 CMA to probe Paramount's takeover of Warner Bros FTSE largely unmoved by lunchtime Heathrow warns of 'uncertain outlook'Sharp rise in unemployed looking for workWise nears completion of US listing Vistry shares fall on new CEO appointment
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FTSE pares some of its losses with oil back to $100 as naval blockade of Strait of Hormuz begins - MARKETS LIVE
