European stocks rise as oil falls back below $100; UK could lose ‘advantage’ over EU due to Trump’s new tariffs, industry warns - as it happened
The Guardian24 Jul 2026Macro
Automatically composed with AI from the cited sources
Brent crude fell below $100 a barrel to trade around $98, driving a 0.5% rise in the Stoxx Europe 600 and a 0.4% gain in the FTSE 100. UK industry warned that the new US tariff round reduces the EU’s blanket levy from 15% to 10%, matching the UK’s negotiated rate and removing the competitive edge held under the previous trade deal.
Context
The oil price drop occurred while Saudi crude shipments continued from the Red Sea coast despite Houthi attacks on Saudi oil installations the same day ,.
