Tensions in the Middle East affect oil prices, while Ofgem sets the household energy price cap.

The entities involved

• Middle East →

  geopolitical region encompassing Egypt and most of Western Asia, including Iran

  • The International Monetary Fund is working with countries in Central Asia and states in the Middle East.13:29
  • Conflict in the Middle East is weighing on prices, reported by Statistics Canada.13:26
• Brent →
  • Retaliation following U.S. strikes has led to the effective closure of the Strait of Hormuz, impacting the global economy.13:21
  • Oil price increases are causing financial yields to rise.11:46
• Ofgem →

  United Kingdom government non-ministerial department

  • Ofgem price cap affects UK household energy costs, coinciding with Zendure launching its SolarFlow range in Great Britain.Thu 17:58
  • Energy price cap hikes are affecting consumer costs, leading to a political clash between Healey and Cooper.Thu 13:33

Related events

• Conflict in the Middle East drives oil prices above $100, pressuring the Bank of England to consider rate hikes.Jul 26
• Conflict in the Middle East drives oil price volatility, accelerating inflation and interest rate changes.Jun 7
• Operational costs driven by the conflict in the Middle East are causing increases in diesel prices.Jul 29
• Conflict in the Middle East is driving up energy prices.Sun 07:51
• The Middle East conflict is accelerating the transition toward renewable energy sources.Tue 22:37