The comments over the weekend had rattled financial markets, adding to fears that the US-Israeli war with Iran would be a prolonged conflict. Since the war began on 28 February, Iran has effectively blocked the Strait of Hormuz, one of the world's busiest oil shipping channels. About 20% of the world's oil and liquefied natural gas usually passes through the waterway - and the conflict has sent global fuel prices soaring. The jump in oil and gas prices since the start of the conflict has raised fears of a sharp increase in domestic energy bills in the UK later this year. On Monday, the yield — or interest rate — on government borrowing over a 10-year period rose to 5.12% at one point, before dropping to about 4.88% after Trump's comments.

Source: GhanaWeb March 23, 2026 14:03 UTC