FTSE 100 Live: Stocks inch up; Fuel shortage fears hit airlines; Unilever nears food deal March 31, 2026 Good morning and welcome back to the City PM liveblog. Oil prices are on track for its biggest monthly gain on record for March following the outbreak of war in Iran. It comes as the war in Iran continues to cause ripples through the market, with Brent crude – the international benchmark for oil prices [...]
White van men ‘bleeding cash’ in Iran war diesel chaos March 30, 2026 The country’s fleet of tradesmen are “bleeding cash,” with the Iran war’s fuel chaos pushing the price difference between petrol and diesel to its widest level in decades. A litre of diesel cost 179.9p on Sunday on average – up more than 35p since the Iran war started and 25p higher than petrol, according to [...]
Reeves and Miliband to call on G7 to follow UK’s energy lead March 29, 2026 Rachel Reeves is set to call on fellow G7 nations to follow the UK’s lead in the transition to renewable and nuclear power as the unfolding energy crisis ripples through global economies. The Chancellor is expected to urge G7 partners to commit to long-term energy security as she meets fellow finance ministers, energy ministers and [...]
Food industry warns of inflation ‘calm before the storm’ March 25, 2026 Food and retail bosses have warned the fall in food inflation is the “calm before the storm,” as business brace for the Iran war to push up energy costs. Trade body Food and Drink Federation (FDF) said Wednesday’s drop in food inflation – from 3.6 to 3.3 per cent year on year – could be [...]
Not just oil: Fertiliser and helium are at risk in the Strait of Hormuz standoff March 24, 2026 Since the start of the Middle Eastern conflict nearly a month ago, analysts have kept their eyes glued to the latest energy market data. On 2 March, Iran declared the Strait of Hormuz, a waterway which is responsible for shipping roughly one fifth of the world’s oil and gas, was “closed” and oil prices have [...]
The oil crisis isn’t just financial, it’s physical March 24, 2026 Disruption in the Strait of Hormuz isn’t just an economic shock, it’s harming the physical infrastructure that underpins global markets, says Helen Thomas Five years ago this week, the Ever Given ran aground in the Suez Canal, blocking one of the world’s key waterways for six days. Oil prices jumped six per cent as roughly [...]
What is the long-term plan for the Strait of Hormuz? March 23, 2026 The disruption of the critical Strait of Hormuz by Iran has created a major global energy crisis that requires a high-risk military solution – but the West currently lacks both the determination and a coherent long-term plan. says Eliot Wilson Today is a red-letter day for Middle East navigational hazard enthusiasts: five years ago, at [...]
Exclusive: Formula 1 teams scramble to move freight stuck in Middle East March 20, 2026 Formula 1 teams are scrambling to access key racing components stuck in the Middle East due to the closure of the Strait of Hormuz and the wider Iran conflict, City PM can reveal. The regional tensions have already caused both the Bahrain and Saudi Arabia Grands Prix to be postponed, and potentially cancelled, leaving a [...]
Bank of England’s Bailey: Interest rate cuts not on the horizon March 19, 2026 The Bank of England’s Andrew Bailey has ruled out the prospect of any interest rate cuts in the near future, warning that the sustained conflict in the Middle East constitutes a major shock to energy supply that could leave long-term scars on the British economy. In an interview with LBC set to air on Thursday [...]
‘Panic mode’: FTSE 100 sinks as oil spikes on Iran’s energy threats March 18, 2026 Markets were thrown into “panic mode” on Wednesday as the surging price of oil rattled global equities. The price of Brent crude – the international benchmark for oil – spiked as much as five per cent to $110 per barrel as energy facilities across the Gulf faced evacuation following the latest threats from Iran. The [...]
