UK households are set to face a sharp rise in energy costs after Ofgem increased the energy price cap by 13% amid soaring wholesale oil and gas prices linked to
UK households face £209 rise in annual energy bills
UK household energy bills are forecast to rise sharply from July, with consultancy Cornwall Insight predicting the annual energy price cap will increase by £209 to around £1,850 for a
British Gas writes off £70m of customer debt alongside £20m payment
British Gas has agreed to pay £20 million into Ofgem’s voluntary redress fund to settle an investigation into the forced installation of prepayment meters on vulnerable customers.
UK inflation could rise further to 4% by November
UK inflation could climb to around 4% by November as the Iran conflict drives up energy costs, according to forecasts from Capital Economics.
Diesel tops $200 a barrel as Iran conflict drives surge
Europe’s benchmark diesel contract has climbed above $200 a barrel for the first time since Russia’s invasion of Ukraine, as the Iran conflict shows little sign of easing.
Reeves backs North Sea drilling amid cabinet tensions
Chancellor Rachel Reeves has voiced support for new North Sea oil and gas drilling, a stance likely to heighten tensions with Energy Secretary Ed Miliband.
Global Oil Supply Crisis Deepens As Iran Conflict Accelerates Energy Market Shock
The world is confronting an unprecedented energy crisis as geopolitical tensions in the Middle East threaten to eliminate substantial portions of the global oil supply. The ongoing conflict has already
UK energy bills set to jump as conflict drives costs higher
Household energy bills are expected to rise sharply from July, as the Middle East conflict continues to push up wholesale prices.
Wall Street opens higher as Trump signals fresh Iran talks
US equities opened higher on Monday after Donald Trump signalled “serious discussions” with Iranian leaders.
Oil surges above $116 as Middle East tensions escalate
Oil prices have climbed sharply, with Brent crude rising above $116 a barrel, its highest level in nearly two weeks, as the conflict in the Middle East intensifies.
Diesel hits highest level since 2022 as fuel costs surge
UK fuel prices have surged again, with diesel reaching its highest level since Christmas 2022 amid the ongoing Iran-driven energy shock.
UK fuel prices keep climbing as diesel surges
Fuel costs continue to rise across the UK, with diesel seeing the sharpest increases since the start of the Middle East conflict.