US Edition
FTSE 100 Extends Slide as Brent Crude Tops 90 Dollars a Barrel
Supply disruptions from Gulf producers and attacks near the Strait of Hormuz pushed Brent crude above $90, raising inflation concerns and impacting global bond yields and equity markets.
- Brent crude rose above 90 dollars a barrel as the FTSE 100 index closed down 129.19 points at 10,284.75 on Friday while the FTSE 250 and AIM All-Share also fell.
- Attacks on oilfields in southern Iraq and Kurdistan forced a US-run field to halt production, while Kuwait and Qatar stopped output and a drone strike in the Strait of Hormuz raised security concerns.
- The yield on UK 10-year gilts leapt to 4.61% on Friday, US 30-year Treasury rose to 4.78%, US 10-year Treasury to 4.16%, and US non-farm payrolls fell by 92,000.
- The Federal Reserve faces delays in rate cuts as rising oil prices challenge the outlook, with Wells Fargo saying the FOMC remains in wait-and-see mode and the Bank of England calling a March cut 'off the table'.
- Bank of America noted only marked, persistent crude spikes trigger lasting inflation cycles, while analysts warned the Iran conflict and weak labour data complicate central banks' outlooks.
16 Articles
16 Articles
Iran War: Brent Ends Week at Over $90 a Barrel, Doubts About Damage to Iran and Condition of Israel Rise, Trump Doubles Down on Failing Kinetic War and Desperate Messaging
Today's Iran war update: rumors of US force deployments as oil and gas price rises threaten the global economy and Mr. Market's mood.
Evening Standard
The IndependentFTSE 100 extends slide as Brent crude tops 90 dollars a barrel
For the week, the FTSE 100 was down 5.7%, the FTSE 250 fell 5.3% and the AIM All-Share dipped 4.2%.
The US and Israel continue to bomb the Islamic regime in Iran, and the Gulf state of Qatar has warned of a halt to energy exports. Oil prices topped $90 on Friday night.
Crude surges past $90 as tankers avoid the Strait of Hormuz, and Trump’s moves haven’t calmed the markets
Crude oil prices have surged past $90 a barrel for the first time since 2023, marking a dramatic jump that has rattled energy markets and raised concerns about rising costs for consumers. Gas prices have already climbed roughly 32 cents per gallon in just a week as the conflict in the Middle East disrupts global energy flows. The spike comes amid escalating tensions involving Iran and disruptions to one of the world’s most critical shipping rout…
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