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Brent crude jumps above $104 as shipping attacks raise supply fears
European gas prices hit two-week highs on Hormuz-linked attacks, while euro and UK gilt yields also rose amid the broader market sell-off.
Brent crude climbed about $4 to trade above $104 a barrel as tanker and other shipping attacks heightened supply concerns, according to the Guardian Business market wrap.
The outlet also said European gas prices rose to two-week highs tied to attacks near the Strait of Hormuz.
The sell-off in bond markets pressured the euro toward a 17-month low, while eurozone and UK gilt yields also moved higher, with UK gilt yields increasing pressure on the chancellor.
In the same live-market coverage, the prospect of a rate rise was cited as weighing on the UK housing market as oil and gas prices moved higher.
Latest closeWTI crude $89.70 ▼1.6%|Brent $100.73 ▼1.5%