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Oil prices climb amid supply fears and shipping attacks; prospect of rate rise weighs on UK housing market – business live

The Guardian Business Thursday 08 October 2026, 06:51 UTC By Julia Kollewe 1 min read
Key Points

Brent crude heads towards $103 a barrel while Asian shares slideGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Oil prices have risen towards $103 a barrel on worries about crude supplies from the Middle East amid growing attacks on shipping in the Gulf and the strait of Hormuz, while the US has reduced its output as a hurricane threatened offshore production. A renewed rise in interest rate expectations has ​created a fresh...

Brent crude heads towards $103 a barrel while Asian shares slide

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

Oil prices have risen towards $103 a barrel on worries about crude supplies from the Middle East amid growing attacks on shipping in the Gulf and the strait of Hormuz, while the US has reduced its output as a hurricane threatened offshore production.

A renewed rise in interest rate expectations has ​created a fresh headwind for the ‌housing market, with buyers ‌becoming a little more cautious and sales activity losing some momentum.

9.30am BST: Bank of England credit conditions survey

10.15am BST: Megan Greene speech in Cape Town

1.15pm BST: Andrew Bailey speaks at the Istanbul Economic Forum in Istanbul

Continue reading...
UK (LOCATION) Brent (PERSON) Asian (ORG) the Middle East (LOCATION) Gulf (LOCATION) Hormuz (LOCATION) US (LOCATION) Bank of England (ORG) BST (ORG) Megan Greene (PERSON) Cape (LOCATION) Andrew Bailey (PERSON) the Istanbul Economic Forum (LOCATION) Istanbul (LOCATION)
Originally published by The Guardian Business Read original →

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