Oil prices soared more than 25% this week, marking the biggest weekly gain since early 2020. By Friday evening, benchmark Brent crude prices had surged by as much as another 10% to 94 US dollars per barrel, hitting three-year highs. The dramatic increases since Saturday's outbreak of the US-Israel conflict with Iran mean oil prices have climbed significantly.
There is no swift resolution to the Middle East conflict in sight, with remarks from US President Donald Trump indicating the conflict would continue until an 'unconditional surrender' of the Iranian regime. Kuwait had joined Qatar in commencing energy production halts. 75.
7% lower. 1%. Disappointing employment figures in the US compounded market anxieties.
' She also said: 'Until the oil price stabilises it's hard to see how stock markets and bond prices can recover,' and issued a warning about potential further declines in the stock market next week. 62% on Friday. There are worries that skyrocketing fuel and energy bills will rule out any further cuts in interest rates.