Oil futures jumped as the market reopened Sunday night, building on last week’s surge after Israel attacked Iranian energy facilities over the weekend and underlining fears around potential disruption to Middle Eastern crude flows.

Chancellor Rachel Reeves says the government will do "everything in [its] power" to protect people in the UK from the knock-on economic effects of the conflict between Iran and Israel.

U.S. consumer prices rose slightly in May as gasoline prices remained subdued, but inflation is likely to pick up in the months as tariffs boost the cost of imported goods.