Oil price shock leaves markets on edge –business live

Rolling coverage of the latest economic and financial news

• Latest: Brent crude over $69 on supply worries
• Introduction: Saudi attack drove oil price up
• WeWork IPO shelved

12.54pm BST

The rising tensions in the Middle East, with Iran seizing several oil tankers and Houthi rebels attacking Saudi targets, had already hurt the markets.

Shares have been dropping in Riyadh in recent weeks, and have now lost all this year's gains:

Saudi Arabian stocks sank after drone strikes highlighted the vulnerability of the kingdom's oil facilities to terrorist attacks https://t.co/cyakaH4H54 pic.twitter.com/jXEkezKedf

12.39pm BST

Back in the UK, plans for a huge mine on the North Yorkshire Moors have been plunged into doubt, putting over 1,000 jobs at risk.

It's also a blow to thousands of small investors, many living in the area, who had backed Sirius Minerals' plan to mine fertiliser.

Plan for huge Yorkshire mine in doubt as firm pulls 400m bond sale citing poor market conditions and lack of government support https://t.co/J66Wk6Gavn