Oil rises above $90 as US-Iran strikes escalate; Ryanair predicts lower fares this summer - business live | Business

Category: Business
Published: Monday, July 20, 2026 at 7:54 AM
Publisher: The Guardian Business

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The Guardian Business 20 hours ago

Oil rises above $90 as US-Iran strikes escalate; Ryanair predicts lower fares this summer - business live

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Rolling coverage of the latest economic and financial news Europe is “particularly vulnerable” to a squeeze on finished fuel supply, according to PVM Oil Associates , an energy and commodities broker. John Evans , an analyst at the firm, said: The European continent is at present particularly vulnerable to the lack of finished fuels as demand has severely increased due to the ongoing, unforgiving heatwave reflected in the demand on the electricity grid. The Gasoil/Brent crack rallied nearly $10/barrel last week and is up nearly $25/barrel since the world thought Hormuz was cured in the middle of June. …One could argue that the recent scrutiny received by AI and technology companies, and stock market falls, are due to the increased awareness of both overstretched valuations and investment, and now, in AI buildouts, overcapacity. Continue reading...