Demand destruction fears rise after Iran war drove up oil and gas prices; UK government borrowing jumps – business live
#oil prices #gas prices #Iran conflict #demand destruction #UK borrowing #energy markets #geopolitical risk
📌 Key Takeaways
- Oil and gas prices surged due to conflict involving Iran
- Fears of demand destruction are rising as high prices may reduce consumption
- UK government borrowing increased significantly
- Markets are reacting to geopolitical tensions and economic indicators
📖 Full Retelling
<p>Rolling coverage of the latest economic and financial news</p><p><strong>Britain’s government borrowed more than expected last month, new data shows.</strong></p><p>The difference between total public sector spending and income widened by £2.2bn year-on-year in February, to £14.3bn.</p><p>“Borrowing was higher than the same month last year and was the second-highest February figure on record. While receipts were up on last year, that was o
🏷️ Themes
Energy Markets, Geopolitics, Economic Policy
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Original Source
<p>Rolling coverage of the latest economic and financial news</p><p><strong>Britain’s government borrowed more than expected last month, new data shows.</strong></p><p>The difference between total public sector spending and income widened by £2.2bn year-on-year in February, to £14.3bn.</p><p>“Borrowing was higher than the same month last year and was the second-highest February figure on record. While receipts were up on last year, that was o
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