No jet fuel shortage in Europe, transport chief says; UK house prices dip again – business live

Rolling coverage of the latest economic and financial news

• UK shoppers return to high street as warm weather brings respite from shadow of war

The oil price is little changed this morning, with Brent crude trading around $95 a barrel.

Susannah Streeter, chief investment strategist at Wealth Club, says:

On the geopolitical front, conflicting messages from both Iran and the US have seen sentiment turn erratic. For now, oil prices are managing to stabilise around $95 a barrel, in the absence of a big reignition in the US military campaign.

But there remain big questions about how negotiations can meaningfully progress, especially with Israel’s actions in Lebanon such a sticking point. Hezbollah rejected proposals for a ceasefire, and although there are now reports it’s seeking fresh talks with the US, this will be a highly complex situation to resolve.

Questions are being asked more intently about whether some of the blockbuster trades of 2026 have had their time in the sun and are due for consolidation, and whether this modest pullback could evolve into something more pronounced.