{
  "id": 7295750,
  "title": "Oil, gas and borrowing costs surge as fears over Middle East escalate",
  "url": "https://urgent.news/2026/09/14/oil-gas-and-borrowing-costs-surge-as-fears-over-middle-east-escalate",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-14T10:00:29.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/oil-gas-and-borrowing-costs-surge-as-fears-over-middle-east-escalate/"
  },
  "original_language": "en",
  "account": "Oil prices have surged to $105 a barrel as concerns over a prolonged Middle East conflict grow, raising fears of accelerating inflation. The US-Iran conflict in the Gulf has intensified, causing crude oil and gas prices to rise sharply. Brent crude surpassed $100 a barrel and continues to climb, while US and UK long-term borrowing costs have hit their highest levels in decades. President Trump expressed doubts that the fighting would cease before the US mid-term elections in November.\n\nAnalysts warn that the convergence of higher energy costs and increased borrowing costs is straining financial markets. Chris Beauchamp, chief market analyst at IG, noted that investors worldwide are waking up to the crisis in oil markets. He cautioned that sustained surges in energy prices could severely impact the global economy.\n\nThe conflict has also disrupted Yemen's key Red Sea port, Mokha, operated by Iran-aligned Houthi forces, potentially leading to further shipping disruptions. Natural gas prices have skyrocketed in the UK, breaching 200p a therm for the first time since late 2022. Europe's storage levels are significantly lower than usual for this time of year, driving prices up as consumers prepare for winter.\n\nWhile UK households are shielded from immediate price spikes by Ofgem's price cap, prolonged high prices could lead to steeper bills. The cap is set to rise by 3.6% in October, with the next adjustment coming in January. Energy cost increases have heightened inflation concerns, pushing up global bond yields. UK 10-year bond yields reached their highest since 2007, while those on 20- and 30-year bonds were at levels unseen since 1998.\n\nThe government's borrowing costs have risen, posing a challenge for public finances. However, this cost increase could also affect households through higher rates on financial products like fixed-rate mortgages.",
  "summary": "The price of oil has jumped to $105 a barrel amid signs the conflict in the Middle East will not be resolved quickly, fuelling fears that inflation could accelerate. With the conflict between the US and Iran in the Gulf intensifying in recent days, the cost of both crude oil and gas has been rising ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Japanese Yen edges lower vs USD amid Middle East jitters as Fed, BoJ meetings loom",
        "url": "https://urgent.news/2026/09/14/japanese-yen-edges-lower-vs-usd-amid-middle-east-jitters-as-fed-boj",
        "published": "2026-09-14T02:04:53.000Z"
      },
      {
        "outlet": "Punch",
        "title": "Middle East supply fears lift oil prices as tech stocks slide",
        "url": "https://urgent.news/2026/09/14/middle-east-supply-fears-lift-oil-prices-as-tech-stocks-slide",
        "published": "2026-09-14T09:46:04.000Z"
      },
      {
        "outlet": "Malay Mail",
        "title": "Oil surges above US$100 as Middle East fears deepen, tech stocks slide",
        "url": "https://urgent.news/2026/09/14/oil-surges-above-us-100-as-middle-east-fears-deepen-tech-stocks-slide",
        "published": "2026-09-14T10:01:20.000Z"
      },
      {
        "outlet": "Channel News Asia",
        "title": "Dollar gains as Middle East conflict lifts oil, Fed hike looms",
        "url": "https://urgent.news/2026/09/14/dollar-gains-as-middle-east-conflict-lifts-oil-fed-hike-looms",
        "published": "2026-09-14T14:04:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}