Trade Winds: Oil, Tariffs, and the Bank of England's Delicate Dance

Oil prices are seesawing as a potential US-Iran deal on the Strait of Hormuz raises hopes of calmer energy markets, while FTSE 100 miners ride a wave of record revenues. Meanwhile, the Bank of England finds itself caught between external shocks and domestic caution, holding rates at 3.75% amid a growing split on the committee.

Trade Routes

• United States: A coalition of 25 states sues the Trump administration over new tariffs of 10% to 12.5% on goods from 60...