Oil at $100 a barrel has thrown a spanner into the UK's cost-of-living recovery, with the FTSE 100 swinging wildly and mortgage rates climbing. The price surge, triggered by Houthi attacks on Saudi tankers in the Red Sea, came just as new US tariffs on British goods landed, creating a one-two punch for the economy.

Trade Routes

• Red Sea: Houthi strikes on tankers pushed Brent crude to $100, its highest since May, before easing to $96.63 on Friday. -...