Oil, gas and UK government borrowing costs prices jump as Middle East tensions ratchet higher – as it happened

Automatically composed with AI from the cited sources

Brent crude rose $3.79 to $87.08 a barrel, a 4.55% increase and the highest since 12 June, before the ceasefire; natural gas prices climbed and UK 10‑year gilt yields pushed above 5%. Iran said it was continuing talks with mediators from Qatar, Pakistan and Oman to prevent further escalation, while Donald Trump left the door open to negotiations. The surge extends the oil‑price rally that began with the US naval blockade reinstatement on 13 July.