Business News

After just four days below, the oil price is back above $100 a barrel as US President Donald Trump said the US military would blockade the key Strait of Hormuz shipping lane.

Airports are bracing for mass shortages of jet fuel if the Strait of Hormuz does not reopen within the next three weeks, according to a trade body.

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The world will experience diesel and jet fuel shortages "for some time" because of the war in Iran, according to the International Monetary Fund (IMF).

British travellers heading on their spring and summer holidays face changes at borders after the introduction of the EU's Entry/Exit System (EES).

Stefano Gabbana, the co-founder of Italian luxury fashion house Dolce & Gabbana, stepped down as the brand's chairman.

Oil prices have fallen sharply and stock markets have soared on news of a two-week ceasefire between the US and Iran.

Fears of fuel shortages have been sparked recently as the number of tankers passing through the Strait of Hormuz was reduced to a trickle amid threats from Iran, which experts say effectively controls the waterway.

Interest rates on plan 2 and 3 student loans will be capped at 6% for one year from September, the government has announced.