Branch² Intelligence
Oil prices rise after fresh US strikes on Iran and return of sanctions on Tehran – business live
Key takeaway
US strikes on Iran and renewed sanctions push oil prices +3%.
- Step 1US military strikes on Iran + sanctions tighten global oil supply.
- Step 2Brent crude rises >3%, lifting UK wholesale fuel and petrochemical prices.
- Step 3UK SMEs face higher logistics and raw material costs, compressing margins.
- Step 4Consumer spending on discretionary goods softens as energy bills rise, reducing SME revenue.
Source: The Guardian Business
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