Rolling coverage of the latest economic and financial newsOil is on the up this morning. Brent crude, the international benchmark for oil prices, has risen by 3.3% to $105.92 a barrel.Kathleen Brooks, of the broker XTB, says the market is still holding out hope that there will be a resolution to the war in the Middle East.The market continues to think that a deal between the US and Iran is likely, even if we have had mixed messages from both sides. The US has said that a deal is near, but Iran cannot have a nuclear weapon, whereas, Iran has said that it wants to keep its uranium stores. From a trading perspective, it is best to ignore the noise and rhetoric from both sides and concentrate on the numbers.Lower oil prices and bond yields can keep stocks supported in the short term, even if the longer-term outlook depends on the full reopening of the Strait of Hormuz.Today’s decision gives European farmers better access to affordable, reliable fertiliser supplies – good news for the agriculture sector and EU consumers alike. At the same time, we are accelerating away from Russian and Belarusian products and building more resilient supply chains and partnerships globally. Continue reading...

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