FTSE 100 Live: Stocks slip as oil nears $100 after Houthi attacks

City AM Published Jul 23, 2026 Reviewed Jul 25, 2026 ✓ Reviewed by citations.press editors

Brent crude oil prices surged to $100 per barrel for the first time since May following Iran-backed Houthi attacks on two Saudi Arabian oil tankers in the Red Sea.

100 USD per barrel · Brent crude oil price

Easyjet posted a £200 million profit hit due to soaring jet fuel costs following the Iran conflict.

200000000 GBP · Easyjet profit hit

Easyjet's stock slumped by 11 percent on Wednesday afternoon to 593p per share after Reuters reported the EU is preparing to review its rules on foreign ownership of airlines.

about 11 percent · Easyjet stock decline593 GBP pence per share · Easyjet share price

Segro surged by seven percent on Thursday morning after announcing it was 'minded to accept' a £14 billion takeover offer from US property giant Prologis.

7 percent · Segro share price increase14000000000 GBP · Prologis takeover offer for Segro

UK Chancellor Andy Burnham announced a £100 million measure to cut business rates by 20 percent for pubs, clubs and music venues, funded by clamping down on vape shops and rogue online sellers.

20 percent · Business rate cut for pubs, clubs and music venues100000000 GBP · Funding amount for business rate cut measure

Welcome back to the CityAM FTSE 100 liveblog.

Stocks slipped on Thursday morning as oil surged back to $100 per barrel for the first time since May. Brent crude barrelled up after the Iran-backed Houthis claimed to have attacked two Saudi Arabian oil tankers in the Red Sea. The US last night launched its 12th successive raft of strikes on Iran.

Susannah Streeter, chief investment strategist at Wealth Club, said: “With both the Strait of Hormuz and the Red Sea now under increasing pressure, markets are bracing for the possibility that the conflict could disrupt key energy routes, keep oil prices elevated, and the prospect of interest rate hikes in focus.”

Easyjet posted a £200m profit hit as it saw jet fuel costs soar due to the Iran war. This came after the stock slumped nearly 11 per cent on Wednesday afternoon, to 593p, after Reuters reported that the EU is preparing to review its rules on foreign ownership of airlines.

Shares in property giant Segro surged by seven per cent on Thursday morning, after the company said it was “minded to accept” a £14bn takeover swoop from US property giant Prolologis.

Andy Burnham announced his latest policy pledge on Thursday morning, promising to cut business rates by 20 per cent for pubs, clubs and music venues. The £100m measure will be funded by clamping down on vape shops and rogue online sellers, the government said.

Kate Shoesmith, director of policy at the British Chambers of Commerce, said: “While news of a carve out for pubs, clubs and music venues is welcome, there are many other smaller hospitality companies facing an existential threat.”

We’ll be bringing you the latest market updates and analysis as the day develops.

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