The cost of crude oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.

Global oil prices have jumped after Israel said it had struck Iran, in a dramatic escalation of tensions in the Middle East.

The price of the benchmark Brent crude was up by more than 10% shortly after the news emerged, reaching its highest level since January.

Traders are concerned that a conflict between Iran and Israel could disrupt supplies coming from the energy-rich region.