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Brent Oil - Reliance Industries shares slip 2% as brent crude tops $75/bbl on Israel-Iran conflict
Following Israel's airstrikes on Iran, oil prices surged, triggering concerns about geopolitical instability and potential supply disruptions. Reliance Industries and Indian oil marketing companies experienced declines due to rising crude costs.
Rachel Reeves rocked as oil price explodes – nightmare tax scenario unfolds
A rising oil price is bad news for motorists, and Rachel Reeves. The economy shrank by 0.3% in May. With households already under pressure, an oil price shock is the last thing she needs. And not just because of the inflation risk.