US inflation stayed flat at 2.4% in February before effects of war on Iran kicked in

Effect of war on prices not reflected in data, as Trump says only ‘fools’ would think oil price shocks would be significant

Aramco warns of oil market ‘catastrophe’ unless strait of Hormuz reopens soon

Saudi Arabian state oil firm calls crisis by far the biggest but company can reroute 70% of exports via its east-west pipeline

Government’s economic watchdog believes pressure on energy prices could push rate close to 3% by end of 2026

Growing fears that elevated interest rates will continue, as Barclays finds worries that war will push up inflation

FTSE 100 opens higher and European markets rise as US president describes conflict as ‘very complete’

Markets settled after Trump claimed US-Israel war with Iran is ‘very complete’, bringing oil prices down to $85 a barrel

Crude prices could surpass their 2008 record, with potentially dire effects for consumers and businesses

Finance ministers from G7 countries resist pressure to release emergency oil stocks at video call today

Finance ministers monitoring situation but stop short of agreeing to release emergency oil reserves

Surging energy prices and tumbling stock markets are threatening a new UK cost of living crisis

Markets predict Bank of England will hold rates in 2026 as bond yields soar on forecasts of prolonged conflict

Data shows labour market is still in a fragile position due to economic uncertainty, with few signs of recovery

Governments are having to wake up to the fact they will have to take a closer interest in supply chains for essentials

Central bankers and economists warn prolonged conflict could raise retail prices and rip up growth forecasts

As the US waives its ban on India buying Putin’s oil for 30 days, Europe must bolster its own measures, such as stopping the flow of luxury cars