How $105 oil could squeeze UK households and strain MENA economies

LONDON: The price of Brent crude was hovering around the $70 per barrel mark when the Iran war began in late February. Since then it has spiked all the way up to $126, dropped back to around $70 and yo-yo’d everywhere in between. Between Tuesday and Thursday, as tensions in the Red Sea racked up, it surged from $97.92 to $107.63. On Friday, it fell back slightly to about $105, but at that price UK consumers will feel the impact in several ways. Peter Dixon, senior economist at the UK-based Natio

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