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Oil price jumps as US-Iran clashes raise odds of interest rate rises

News Snapshot:

Oil and gas prices have jumped and expectations of interest rate rises in Europe have increased after the US carried out a third night of military strikes against Iran.Brent crude, the international benchmark for oil prices, rose by as much as 4.6% to $87.08 a barrel on Tuesday, its highest level in just over a month.The price had risen as much as 10% on Monday after Donald Trump announced a blockade of Iranian shipping, and the US strikes pushed levels even higher on Tuesday.Gas prices leapt higher, with the Dutch natural gas contract for August delivery, the European benchmark, up…

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