Oil Prices Surge to $105 Amid Middle East Conflict Escalation

The price of oil has increased to $105 a barrel due to ongoing tensions in the Middle East, specifically between the US and Iran. Brent crude has also risen above $100 a barrel, impacting supply routes like the Strait of Hormuz. Natural gas prices in the UK have exceeded 200p a therm for the first time since late 2022. These developments have raised concerns about higher inflation and pushed UK bond yields to their highest levels in decades. For ordinary investors, these rising energy costs could signify more volatile markets ahead.