Oil prices soar above $100 a barrel as hope fades of end to Iran war
Crude had stabilised on optimism that a deal could be reached to reopen the Strait of Hormuz
Economic news
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Bill Ackman plays to the market
Plus, Nest’s private credit mandate, US small caps jump and Rothko in Florence
The risks of Trump’s Strait of Hormuz blockade plan
Naval embargo designed to cut off Iran’s exports threatens to destabilise global energy markets
We are stuck in a currency doom loop
Without the dollar, bad situations could be made even worse