Oil prices top $90 as Strait of Hormuz tensions boost energy stocks, while airlines and housebuilders fall.

Brent crude oil prices have risen above $90 a barrel amid ongoing US military strikes on Iran and severely reduced traffic through the Strait of Hormuz. This disruption has led to gains in oil companies like BP and Shell, benefiting from higher margins and market volatility. Conversely, airline stocks dropped due to increased fuel costs, and UK housebuilders fell amid fears of rising interest rates and mortgage costs, despite hopes for government support. The situation remains volatile, with analysts warning of potential further price spikes if the strait remains closed.