Intensification of Middle East conflict and ongoing Russian export ban leads to diesel prices rising 10% in less than a week

Farmers are facing an “astronomical” jump in the price of fuel needed to operate their vehicles and machinery after a surge in diesel costs in the UK and the US.

Renewed fighting between the US and Iran has driven up the price of crude oil, while last week Russia extended a ban on diesel exports, further pushing up market prices.

Bitcoin rises above $80,000 for the first time since May amid uncertainty over US fiscal plans

Gold prices hit their highest level in more than three months on Tuesday as continued conflict in the Middle East and ongoing political uncertainty fuelled the latest rally in the precious metal.

Gold is viewed as a safe haven by investors and its price tends to rise at times of uncertainty.