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

  • A US Air Force base in Fairford, located near the Oxfordshire border, is being utilized due to actions in the Middle East.Mon 17:54
  • Authorities are investigating an incident at a base in Fairford, with possible links to Iran and Russia.Mon 17:54
• Brent →
  • ECB chair signals readiness to raise rates as potential attacks in Yemen drive oil price spikes and market risk-off.Mon 17:39
  • US-Iran truce aims to reopen Strait of Hormuz amid global monetary policy shifts and oil price drops.Mon 17:37
• Ofgem →

  United Kingdom government non-ministerial department

  • Great Britain's energy regulator, Ofgem, has been responsible for setting and implementing energy price caps for households.Mon 15:34
  • Potential weather pattern affecting energy demand due to El Niño, involving the UK energy regulator Ofgem.Thu 07:35

Related events

• Oil prices spiked following the reigniting of hostilities in the Middle East.Sep 2
• Middle East conflict prompts a reversal in oil prices.Jul 14
• 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
• Conflict in the Middle East drives up crude oil prices.Aug 17