Oil back over $100 as US-Iran ceasefire comes under pressure; British Airways’ parent company warns jet fuel could be ‘restricted’ – business live

Rolling coverage of the latest economic and financial newsLondon’s stock market is sliding at the start of trading.The FTSE 100 index has dropped by 67 points, or 0.65%, to 10,209 points.“We are actively managing the uncertainty created by the fuel price increase and its impact, taking the necessary action on yields, costs and capacity. We currently see no issues with fuel availability in our main markets, particularly as we benefit from our investment in fuel self-supply at our hubs.Whilst the impact of the higher fuel price will inevitably lead to lower profit this year than we originally anticipated, we are confident in our business model and strategy, which has made us one of the best-performing airline groups in the world, and which gives us the opportunity to prove our resilience. This confidence means we are on track to continue with the remaining €1 billion return of excess cash. Continue reading...