UK Housing Market Inverted by Oil Shock as Mortgage Rates Surge

The UK economy is caught in a geopolitical crosswind: Brent crude has surged past $97 per barrel following renewed US-Iran strikes, injecting fresh inflationary pressure into an already fragile domestic landscape. This isn't just a headline number for commodity traders—it's the engine driving a cascade of pain from the City of London to suburban high streets. The oil shock is feeding directly into swap rates, pushing up borrowing costs, and finally tipping UK house prices...