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Energy bills push UK inflation to four-month high
UK inflation has risen by 2.9%, reaching its highest level for four months, with higher energy bills identified as the main driver and economists having expected the increase.
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Oil reaches $105 a barrel as Middle East fears drive up costs
Oil climbed to $105 a barrel while gas and borrowing costs also rose, as concern increased that the conflict involving Iran may not be settled quickly...
Business
Virgin's Branson links flight price rises to wars and fuel costs
Virgin's Branson has said rising flight prices are being driven by higher fuel costs caused by Middle East tensions and what he described as “foolish...
Business
Bank of England governor warns AI could trigger global downturn
The governor of the Bank of England has warned that artificial intelligence could contribute to a worldwide economic downturn, citing volatility linke...
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Typical household energy bills to rise by £60 from October
Ofgem has announced a 4% rise in household energy bills from October, with a typical gas and electricity user expected to pay £60 more a year.
Business
Energy UK says struggling households need more bill support
Energy UK has said existing help for households most in need is not sufficient, calling for stronger support for people struggling with energy bills.
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Burnham warns Iran war could weigh on UK growth next year
Burnham has warned that conflict in the Middle East could affect UK economic growth next year, with oil and fuel prices rising and supply chains disru...
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Some energy customers may need to act to secure £150 bill discount
Some people could miss out on a £150 reduction on their energy bill if they are not named on the account before the relevant deadline.
Business
Oil prices fall amid hopes Strait of Hormuz shipments could resume
Oil prices have declined after senior US officials said talks had advanced towards allowing shipments through the Strait of Hormuz to restart.
Business
BP profits reach four-year high as Iran war lifts oil prices
BP has reported its highest profits in four years after higher oil prices strengthened its results, while environmental groups accused the company of...
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Oil tankers face heightened Middle East threat, analysts say
Analysts say fresh attacks on alternative shipping routes have created a more complicated threat environment for oil tankers in the Middle East, descr...
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UK unleaded petrol price reaches 160p a litre
The price of unleaded petrol in the UK has reached 160p a litre, according to the RAC, with oil prices remaining high.
Business
Oil prices fall sharply as US and Iran pause attacks
Brent crude dropped by more than 9% at one point after signs that attacks between the US and Iran had paused, easing some immediate fears over energy...