‘Critically low levels’: UK braces for jet fuel shortage as rationing looms May 5, 2026 The UK is particularly vulnerable to the jet fuel shortages caused by the Iran war, as the risk of rationing looms as supplies fall to “critically low levels” while the summer holidays creep closer. The ongoing closure of the Strait of Hormuz has led to an “extreme tightness” in the supply of jet fuel in [...]
FTSE 100 Live: Gilt yields surge over Starmer fears; Intel, Pinterest shares rocket May 5, 2026 Good morning and welcome back to the City AM liveblog. Gilt yields have risen to their highest rate in nearly thirty years, as markets weigh up the prospect of an ousted Keir Starmer and lurch to a more left-wing government that might follow. The yield on 30-year government bonds rose 11 basis points on Tuesday [...]
Trump turmoil sends oil prices back toward multi-year peak May 4, 2026 Iran hits back at president’s ‘Operation Freedom’ pledge for safe passage through the Strait of Hormuz; Brent up over 5 per cent to $114 a barrel The main international oil price surged back toward multi-year highs on Monday, as US President Donald Trump’s pledge to get tanker traffic moving through the Strait of Hormuz was [...]
Wizz air urges Brits to ‘book with confidence’ despite rising fuel fears May 3, 2026 Wizz Air has moved to reassure passengers its summer schedule will run as planned, as concerns mount over potential flight disruption linked to the Middle East conflict. The budget carrier said its operations remain “fully stable and unaffected”, despite warnings from ministers that jet fuel shortages could impact travel during the peak holiday season. A [...]
Petrol retailers vindicated after Reeves ‘profiteering’ claims May 1, 2026 Petrol retailers have been vindicated of “price gouging”, pouring cold water on the government’s accusations of profiteering from the war in Iran. The Competition and Markets Authority (CMA) found that higher fuel prices in the UK were caused by the rising cost of oil, rather than by retailers expanding their margins to profit from the [...]
FTSE 100 Live: Stocks drop amid US-Iran war mixed messaging; House prices up May 1, 2026 Good morning and welcome back to the City AM liveblog. Markets are scrambling for some messaging this morning as tensions around the Iran war drag on. Donald Trump faced a deadline for today whether to formally end the war in Iran or make the case to the US Congress for extending it. But an official [...]
After a ‘stunning’ update, what does the future hold for long-suffering BP? April 30, 2026 BP wowed shareholders with its first quarter results – doubling profit and bolstering its balance sheet. But with an activist breathing down its neck, its new boss Meg O’Neill isn’t out of the woods yet, writes Ali Lyon As she sat down to pen her first email to BP’s 100,000 staff, Meg O’Neill opted against [...]
Oil price rockets to wartime high as Trump eyes fresh military action in Iran April 30, 2026 Brent oil surged to a new high during early-morning Thursday trading after reports that US president Donald Trump is set to receive a briefing on new military operations in Iran, raising fears over an end to the fragile ceasefire between the two nations. The global benchmark surged as much as 7.1 per cent this morning, [...]
FTSE 100 Live: Stocks drop as oil holds firm over $110; UK growth slashed April 29, 2026 Good morning and welcome back to the City AM liveblog. Oil prices are holding firm tipping over the $110 mark, bringing the cost of a barrel closer to the highs of $118 it peaked at earlier in the Iran war. Brent crude – the international benchmark for oil – advanced another one per cent on [...]
BP reports highest profits since 2023 off the back of Iran war April 28, 2026 Oil and gas giant BP has reported its highest quarterly profit since 2023 in its latest trading update, as the group capitalised on rising oil prices sparked by the ongoing conflict in the Middle East. In its first results since the war in Iran broke out in February, BP reported a surge in profits to [...]