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Global oil prices climbed sharply on Monday after US President Donald Trump delivered a new warning to Iran through social media, intensifying investor concerns over the ongoing conflict in the Middle East and its potential impact on energy markets. International benchmark Brent crude futures for July delivery rose 1.81%, reaching $111.27 per barrel in early trading. Meanwhile, US West Texas Intermediate (WTI) crude for June delivery advanced 2.15% to $107.69 per barrel as

Consumer prices in the United States rose sharply again in April, with the latest data from the United States Department of Labor showing the Consumer Price Index increased 3.8% compared with April 2025. The monthly reading also showed prices climbing 0.6% from March to April, a slowdown from the 0.9% increase recorded between February and March. Energy costs were a major driver of the increase, with petrol prices rising 5.4% over the month. On a year-over-year basis, petrol

Global oil prices have climbed following renewed delays in planned second-round peace negotiations between the United States and Iran, as geopolitical tensions continue to strain global energy markets and raise concerns over supply disruptions. Benchmark crude, Brent, increased by almost 2% to $107.26 (£79.25) per barrel, while US West Texas Intermediate (WTI) rose by around 1% to $95.40. The price movement comes after US President Donald Trump stated on Saturday that Washing