Branch² Intelligence
Oil Price Today (July 10): Crude oil up 6% this week as US and Iran continue attacks. Where are prices headed?
Key takeaway
Crude oil up ~6% this week on US-Iran tensions and supply disruption fears.
- Step 1US-Iran geopolitical tensions disrupt supply expectations, pushing Brent +6%.
- Step 2Higher crude prices pass through to UK diesel and heating oil prices, increasing SME operating costs.
- Step 3Sustained cost pressure reduces discretionary spending and may trigger BoE rate caution, affecting SME financing conditions.
Source: IN:Economic Times
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