Oil Shock Ripples Through UK as Mortgage Rates Spike and Shoppers Tighten Belts

$98 a barrel — Brent crude is knocking on triple digits again after Houthi attacks crippled Saudi energy facilities and Iran threatened a new "restricted zone" in the Strait of Hormuz, sending a fresh wave of inflation anxiety through UK financial markets.

Money Moves

• Mortgage rates hit highest since June — The average two-year fixed homeowner mortgage climbed to 5.63% and the five-year fixed reached 5.68%, as lenders pass through surging swap...