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Explore →Oil rises and global stocks wobble amid worries over ‘fragile’ ceasefire deal in Middle East – business live
<p>Rolling coverage of the latest economic and financial news</p><p>Oil prices are still rising this morning, as markets question the durability of the ceasefire deal between the US and Iran.</p><p>Brent crude, the international benchmark, is now up by about 3% to $97.88 a barrel.</p><p>We’ve obviously had a very big shock in the last month or so, with the conflict breaking out in the Middle East, that has prompted, obviously, much greater market volatility. I mean, we all have to get up in the morning and find out what’s gone on overnight. At least we got up yesterday and found the world was still with us, but it obviously is very volatile. Yesterday was a good day in point to illustrate that.”</p><p>It’s a very good environmental argument, don’t get me wrong. But there is also an economic argument here as well, because it’s certainly the case for the UK that we are still reliant on gas quite often, but less than we used to be, as the marginal source of energy.</p><p>But the share of renewables has grown, and I know the UK government’s very focused on this question as to what we learn from the events we’re going through at the moment, what’s the right thing to do.”</p> <a href="https://www.theguardian.com/business/live/2026/apr/09/oil-stocks-fall-fragile-ceasefire-middle-east-business-news">Continue reading...</a>
<p>Rolling coverage of the latest economic and financial news</p><p>Oil prices are still rising this morning, as markets question the durability of the ceasefire deal between the US and Iran.</p><p>Brent crude, the international benchmark, is now up by about 3% to $97.88 a barrel.</p><p>We’ve obviously had a very big shock in the last month or so, with the conflict breaking out in the Middle East, that has prompted, obviously, much greater market volatility. I mean, we all have to get up in the morning and find out what’s gone on overnight. At least we got up yesterday and found the world was still with us, but it obviously is very volatile. Yesterday was a good day in point to illustrate that.”</p><p>It’s a very good environmental argument, don’t get me wrong. But there is also an economic argument here as well, because it’s certainly the case for the UK that we are still reliant on gas quite often, but less than we used to be, as the marginal source of energy.</p><p>But the share of renewables has grown, and I know the UK government’s very focused on this question as to what we learn from the events we’re going through at the moment, what’s the right thing to do.”</p> <a href="https://www.theguardian.com/business/live/2026/apr/09/oil-stocks-fall-fragile-ceasefire-middle-east-business-news">Continue reading...</a>