Business

Brent crude surged past $100 a barrel for the first time since July amid escalating US-Iran conflict, Houthi attacks, and US strikes on Iranian tankers, while unleaded petrol prices jumped by 5p over a week to 167.17p per litre, stoking fresh inflation and interest rate concerns.

• Brent crude rose more than 3% to top $101 a barrel.
• The price spike follows tit-for-tat exchanges between the US and Iran and Houthi attacks on Saudi cities.
• Crude oil prices have surged back above the $100 per barrel threshold.
• The price increase is stoking fresh inflation fears and threatening central bank interest rate paths.
• Brent crude hit $100 a barrel for the first time since July.
• The price surge follows US strikes on five Iranian tankers.
• A litre of unleaded now costs 167.17p.
• Petrol prices rose by 5p over a single week.
• This is the biggest weekly price increase since April.