UK food and drink exports fall as US tariffs and Brexit trade friction bites – business live

Rolling coverage of the latest economic and financial news

The oil price is easing back this morning, after jumping following an attack in the strait of Hormuz.

Brent crude is down 2.3% today at $73.53 – still above yesterday’s four-month low of $72.06, lower than before the Middle East conflict began.

This is due to the impact of extremely high temperatures affecting Great Britain and the continent.

“An Electricity Margin Notice (EMN) has been issued to the market. This is a routine tool, and means we are asking market participants to make any additional generation capacity they may have available.”