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Middle East

  • As it happened: Stocks drop on Trump-Iran warning; Mahmood tipped to be chancellor

    July 16, 2026

    Welcome back to the City AM liveblog. The UK has received fresh economic growth data this morning which has put GDP expansion at a sluggish 0.1 per cent for the month of May. The services sector – which contributes more than 80 per cent of total economic output – grew 0.3 per cent against steep [...]

  • As it happened: Stocks reverse losses after Trump threatens harder strikes on Iran; Oil at four-week high

    July 15, 2026

    Welcome back to the City AM liveblog. Oil prices have reached a four-week high after the Strait of Hormuz became too unsafe for ships travel through following the exchange of strikes between the US and Iran. Brent crude – the international benchmark for oil prices – tipped over the $87 per barrel mark on Tuesday [...]

  • JP Morgan bags record profit – but Dimon warns of risks shifting ‘below the surface’

    July 14, 2026

    JP Morgan secured the highest quarterly profit in US banking history in its second quarter but chief executive Jamie Dimon tempered the celebration with a warning that risks in the global economy were “shifting below the surface like tectonic plates”. The Wall Street giant recorded a 41 per cent jump in net income to $21.2bn [...]

  • As it happened: FTSE 100 recovers after oil surge dampens mood; Strikes in the Strait of Hormuz

    July 14, 2026

    Welcome back to the City AM liveblog. Oil prices are marching higher after the latest wave of military action in the Middle East following the US reinstating its blockade on imports from Iran. Brent crude – the international benchmark for oil prices – surged above $84 per barrel on Tuesday, bringing gains for the week [...]

  • As it happened: Choppy day for FTSE 100 after Iran closes Strait of Hormuz as strikes ramp up

    July 13, 2026

    Welcome back to the City AM liveblog. Markets are returning from the weekend to face another geopolitical shock after Iran confirmed it had closed the Strait of Hormuz once more. The narrow waterway that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea had slowly seen a pick up in traffic [...]

  • As it happened: Stocks rises as oil eases but Strait of Hormuz concerns ramp up

    July 10, 2026

    Welcome back to the City AM liveblog. Markets are set to make a loss for the week after the conflict in the Middle East returned to full-blown military action this week. The FTSE 100 has shed over one per cent and is on course to close in the red for the week, even after breaking [...]

  • As it happened: Stocks fall as oil creeps up; Trump to ‘finish job’ in Iran

    July 9, 2026

    Welcome back to the City AM liveblog. The escalation of the conflict in the Middle East has wiped out the recovery across global markets that had slowly took place over the last few weeks. The US and Iran exchanged further fire overnight, with America’s central command stating it had hit around 90 Iranian targets in [...]

  • UK borrowing costs surge as Trump declares Iran ceasefire over

    July 8, 2026

    UK borrowing costs surged and the price of oil leapt to a two week-high on Wednesday after Donald Trump suggested his already-fragile ceasefire deal with Iran was over.  The yield on ten-year gilts – the primary benchmark for how much it costs the government to borrow – stormed 11 basis points higher to 4.96 per [...]

  • As it happened: FTSE 100 slump as oil soars; Trump says Iran will be ‘hit hard’ tonight

    July 8, 2026

    Welcome back to the City AM liveblog. Global markets are strapping in for a return to risk-aversion after the US and Iran traded strikes overnight following the breakdown of a peace deal in the Middle East. The US kicked off its “series of powerful strikes” late Monday night. The nation’s Central Command said the attacks [...]

  • As it happened: FTSE 100 rises to defy tech gloom; oil creeps up on fresh Iran tensions

    July 7, 2026

    Welcome back to the City AM liveblog. Donald Trump warned the US will “finish the job” in Iran leaving investors unnerved as he renewed military threats following the funeral of Tehran’s former Supreme Leader Ayatollah Ali Khamenei. Brent crude – the international benchmark for oil – traded above $72 per barrel on the news, but [...]

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