UK motor fuel prices rise since Middle East conflict began, and energy bills could jump 10% in July – as it happened

<p>Rolling coverage of the latest economic and financial news</p><ul><li><p><a href="https://www.theguardian.com/business/2026/mar/04/maritime-and-port-workers-how-is-the-middle-east-conflict-affecting-you"><strong>Maritime and port workers: how is the Middle East conflict affecting you?</strong></a></p></li><li><p><a href="https://www.theguardian.com/politics/2026/mar/03/rachel-reeves-spring-statement-economy-great-dont-worry-about-middle-east">Reeves’s spring statement? The economy is great, don’t worry about the Middle East</a></p></li></ul><p><strong>The market turmoil hasn’t prevented a UK autonomous vehicle software company winning new funding.</strong></p><p>Oxa, based in Oxford, has raised $103m (£77m) – including $50m (£37m) from the UK’s National Wealth Fund.</p><p><strong> </strong>“Oxa is a great example of UK excellence in digital technologies that are transforming the global automotive sector, and this investment will boost productivity and improve freight efficiency at home and abroad.</p><p>With advanced manufacturing and digital technologies being central to our Modern Industrial Strategy, we’re supporting firms like Oxa to strengthen the UK’s position as a global leader in connected and automated mobility.”</p><p>Until there is a pause in this conflict and free flowing oil around the world, it is hard to see how markets can stage a meaningful recovery. We expect stocks and bonds to remain nervous and driven by headline risk.</p><p>The dollar has been king during this crisis, however, it is pulling back slightly today, and G10 currencies are clawing back some recent losses. This is likely to be temporary, especially if the oil price remains to the upside.</p> <a href="https://www.theguardian.com/business/live/2026/mar/04/