Oil price heading for biggest weekly gain in four years, as strait of Hormuz traffic grinds to a halt – business live

Rolling coverage of the latest economic and financial news Iran war live updates: US temporarily lets India buy Russian oil amid energy fears; Israeli military launches strikes on Beirut Gold, traditionally seen as a safe-haven asset, has dropped this week. Gold is down over 3% since the Iranian war began, partly due to a rally in the value of the US dollar. “The world economy has been remarkably resilient. Shock after shock, and yet growth is at 3.3%. But this resilience is being tested ...

By Graeme Wearden