Brief by Shorts91 Newsdesk / 06:48pm on 03 Mar 2026,Tuesday International
Oil and gas prices rose sharply as global stock markets fell on fears the Middle East conflict could grow. UK gas prices hit a three-year high before easing. Brent crude moved above $85 a barrel and is about 17% higher than last week. Major share indexes in London, Germany and France closed lower. US markets also fell in early trade. Investors are worried about energy supplies and shipping through the Strait of Hormuz. “As long as this war continues… it can be an issue for the price of oil,” said Philip Palumbo. Higher energy costs could raise inflation and delay interest rate cuts. (PC: BBC)
