$10 oil price jump 'could trigger sharp equity correction'

Rising tensions between Iran and the rest of the world could prompt a sharp correction in equity markets, according to Lorne Baring, managing director of B Capital Wealth Management.

Brent crude prices rose for the second day running today following signs the US and Europe's sanctions on Iran are slowing exports. "It would only take a little extra threat to the situation between Iran and the outside world to drive the price of crude up $10-$15," said Baring. "If the price rises by $10-$15, we could see a sell-off in equities as investors anticipate prices going even higher," he added. The price of a barrel of Brent Crude oil hit $125.07 per barrel today, a 0.8% rise, adding to yesterday's 1.4% increase. Prices have been steadily climbing from a dip to $122 last...