World · 3 March 2026
Gas prices jump 40% as Reeves presents forecast
Rachel Reeves will respond to the Office for Budget Responsibility's Spring Forecast today, insisting the government has the right economic plan. Liquefied natural gas prices soared over 40% yesterday, and oil rose more than 7%. This surge stemmed from a Middle East crisis, including Qatar halting LNG production and Saudi Arabia shutting down an oil refinery. Higher energy prices risk reigniting the cost-of-living crisis.
Reported by Guardian · How we write briefs