G7 nations to hold emergency meeting on oil as stock markets sink
Chancellor Rachel Reeves will join talks amid reports that oil reserves could be released to lower prices.
Chancellor Rachel Reeves will join talks amid reports that oil reserves could be released to lower prices.
For every $10 rise in oil prices, motorists face paying roughly 7p per litre more in the UK.
The price of crude has surged above $100 on concerns about shortages due to supply disruptions.