Hormuz blockade removes 20M barrels daily, pushing UK mortgage rates up as inflation delays easing until 2026
The Middle East conflict has cut 20 million barrels per day from global oil markets through a Hormuz Strait blockade, according to MacroEdge Research. Resulting inflationary pressure is forcing the Bank of England to hold rates at 3.75% while UK mortgage lenders raise borrowing costs, with Federal Reserve officials warning price pressures won't ease before late 2026.
ViaNews Editorial Team (Europe)•