Oil and gas prices rise as US and Iran trade strikes; UK house prices fall – business live

British house prices fell 0.6% in May, leaving them 1.7% higher than a year earlier, Nationwide reportsEurozone factories were hit by the biggest jump in input costs in four years last month.The Iran war drove up the cost of raw materials and intermediate goods, according to the latest poll of purchasing managers at European manufacturers.Although euro area manufacturers reported an expansion for a fourth successive month in May, the sector is showing signs of struggling under the weight of rising prices and supply disruptions emanating from the war in the Middle East.“A key development in May was yet another surge in energy and raw material prices, causing the largest monthly jump in firms’ costs for four years. The incidence of supply chain delays has meanwhile risen to the highest since