FTSE 100 Live: Stocks rise after inflation surges; Oil jumps as Trump claims Strait of Hormuz

Welcome back to the City AM liveblog. Oil prices are surging higher for the fourth consecutive session after Donald Trump declared the Strait of Hormuz as US territory. Brent crude – the international benchmark for oil prices – was climbing towards $92 as there was little indication the narrow waterway was to be reopened, keeping…