London stocks head for weekly loss as oil reaches six-month high amid escalating Iran tensions

Brent crude, which surged to a five-month high above $115 a barrel on fears of renewed US strikes on Iran, has now pushed to a six-month peak as tensions with Tehran continue to intensify. Tehran has warned it will hit Gulf oil facilities, undersea cables and datacentres if a new US-Israeli offensive is launched. Houthi militants have attacked Saudi Arabia, and Saudi Aramco evacuated its Dhahran headquarters. The FTSE 100 fell 0.3% to 10,690.36 and lost 1.8% over the week.

Trump says the US 'knocked' out Iran and threatens to go 'a little bit further'.

Brent was about $72 a barrel before the war began in February.

At least 18 ships were hit in the Strait of Hormuz over two weeks.