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Oil hits $100 a barrel as Trump imposes new round of tariffs

Oil prices surged past $100 a barrel as the US-Iran conflict disrupted shipping in the Strait of Hormuz. President Trump simultaneously imposed a new round of tariffs on allies and rivals, straining global trade. The FTSE 100 hit a record high despite the sell-off in tech stocks, while Asian markets tumbled on fears of a prolonged trade war combined with soaring energy costs.