FTSE 100 Live: Stocks to rise as Trump and Iran’s Strait of Hormuz tensions persist
Welcome back to City AM liveblog. Oil prices are hovering around the $88 per barrel mark as investors asses the conflicting rhetoric over the Strait of Hormuz. President Donald Trump said the US had “total control” over the narrow waterway as negotiations remain in deadlock. But Iran has pushed back on these claims with the nation’s [...]
Good evening, readers. As of now, oil prices are hovering around $88 per barrel, as investors grapple with conflicting rhetoric surrounding the Strait of Hormuz. President Donald Trump has asserted that the US has "total control" over the narrow waterway, while Iran remains unconvinced. The Persian Gulf Strait Authority has stated that the Strait of Hormuz remains blocked, with no plans to open it until Iran's conditions are met.
Trump has praised the US's control over the Strait of Hormuz, expressing his belief that it will remain closed. Treasury officials have briefed the UK Prime Minister that UK GDP growth could be as low as 0.3% in 2027 if the ongoing disruption persists until the end of 2026. This scenario would see UK GDP growth at 0.9% this year, falling short of the 1.1% prediction from the Office for Budget Responsibility (OBR) and the 1.6% growth forecast for 2027.
The OBR has also warned that Consumer Price Index (CPI) inflation could peak at 4.3% in the first quarter of next year due to ongoing disruption in the Strait of Hormuz, which is likely to keep oil and gas prices elevated. Energy experts are monitoring the situation closely, and we will continue to provide updates on the latest market developments and analysis.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
