Brent crude hits $90 as Kuwait ‘starts cutting oil production’; shock as US economy loses 92,000 jobs in February – business live

Huge miss in US jobs report suggests labor market weakening, as Middle East crisis drives oil price higher and higherIran war live updates: US temporarily lets India buy Russian oil amid energy fears; Israeli military launches strikes on Beirut‘We’re powerless … and hoping nothing hits us’: trapped on a tanker as Iran war escalatesThe Guardian spoke to a crew member on one of the stranded tankers in the Gulf, that typically ferries vast quantities of oil from the Middle East to ports around the world.They told us:“When [Donald] Trump said Iran had 10 days to agree to his deal or bad things would happen, I did the math and thought we might get stuck here. And we did.Our updated assumptions assume the energy price shock is relatively short-lived, but the effects on inflation and risks of sec