President Trump announces military blockade at Hormuz, oil tops $100
Business
Oil just shot past $100 a barrel after President Trump announced a US military blockade at the Strait of Hormuz, following failed talks with Iran.
Brent crude nearly hit $103 overnight before settling around $101 (a nearly 7% jump from last week's dip).
UK working-age households £480 worse off
Rising oil prices are making everyday life more expensive worldwide.
In the UK gas and energy bills have climbed, and food costs are up too (experts say the median working-age household could be £480 worse off this year to higher energy prices).
Petrol and diesel have now gone up for 40 days straight, and heating oil has doubled since February.
Even stock markets are feeling the pressure as investors worry about where things go next.