FTSE 100 Live: Stocks to dip as oil surges after US-Iran ceasefire expires; UK vacancies sink to five-year low

Welcome back to the City AM liveblog. Oil prices are marching higher after Donald Trump refused to extend the ceasefire between the US and Iran following its expiration on Monday. Brent crude – the international benchmark for oil prices – broke above $91 per barrel as tensions persisted over the Strait of Hormuz and a…