FTSE 100 LIVE: Stocks fall and oil prices soar after Trump threatens to hit Iran ‘extremely hard’
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The FTSE 100 and European stocks fell after President Donald Trump threatened to hit Iran 'extremely hard', causing oil prices to soar. The conflict has led to a surge in oil prices, with Brent crude futures rising 8% to $109.25 per barrel and West Texas Intermediate futures jumping 8.4% to $108.56 a barrel.
Stocks fell on Thursday after President Donald Trump's national address. He stated the US would hit Iran 'extremely hard' over the next two to three weeks. Oil prices soared, with Brent crude futures rising 8% and West Texas Intermediate futures jumping 8.4%. The FTSE 100 edged 0.1% lower, while the DAX slumped 2% and the CAC dropped 1.1%. The pound tumbled 0.9% against the US dollar. The conflict has disrupted oil supply, pushing costs higher. The average prices of petrol and diesel in the UK rose by a record monthly amount in March.
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