Oil and gas prices jump as Middle East escalation and Ukrainian drone attacks on Russian gas plants – business live

The Guardian — Business has covered a development concerning “Oil and gas prices jump as Middle East escalation and Ukrainian drone attacks on Russian gas plants – business live,” with the available account limited to the facts included in the supplied text.

British gas prices top 200p per therm, the highest since December 2022, while European gas prices are the highest since January 2023 Oil prices continue to climb, and are above $102 a barrel now following the US and Iran stepped up their attacks on ships on Wednesday. The report also notes that Brent crude touched $102.17 a barrel and is now trading at $102.09, up 88 cents or 0.87%. This leaves the market vulnerable as we head closer towards the upcoming heating season. The sharp drop at the open is the market saying Primark’s turnaround is still a story, not a number. Like-for-like sales at Primark, expected down 3% in the fourth quarter following a 2.2% drop in the third, tell investors the recovery they had started to price in is not here yet. Summer price cuts and a sharper UK offer have not turned the existing store base. New shops in the US can still lift the headline. They cannot, on their own, justify the multiple a standalone Primark is expected to need. Europe remains the problem, and that is half the estate. Home delivery in the UK is the right call and closes a long running gap. It is expected to not rescue this Christmas, and the market has treated it accordingly.

Any statements, estimates or characterisations remain attributed to the people or organisations identified by the source. The excerpt alone does not provide a complete documentary record or necessarily include responses from every party involved.

Official statements or subsequent reporting may add context as the story develops. For now, this account is confined to information directly supported by the provided headline and excerpt.