Brent jumps 10% after Donald Trump announces Iranian shipping blockade
Business
Oil prices just shot up after the US stepped up military strikes against Iran.
Brent crude jumped 10% on Monday after Donald Trump announced a blockade on Iranian shipping.
European gas and UK energy spike
European gas and UK energy prices also spiked, hitting their highest levels in months.
This has everyone worried about inflation and possible interest rate hikes by central banks like the Bank of England and the European Central Bank.
While most stocks dipped, oil giants BP and Shell actually saw their shares rise, showing how rising energy prices are shaking things up across different sectors.