(Il Sole 24 Ore Radiocor) - Milano, 12 mar - Shares in London closed lower as oil prices rose once again as Iranian attacks on tankers raised concerns that the Strait of Hormuz could remain closed for an extended period.

The surge in oil prices exacerbated concerns about inflation tied to energy costs.

Tehran, which has been ramping up its attacks on infrastructure and energy-related assets in retaliation for US-Israeli strikes, today warned the world to prepare for 200 dollar oil prices.

A record oil reserve release by the IEA yesterday failed to calm nerves.

BAE Systems gained 3.14% at 2,298.00 pence.

While the prospect of a rate hike to curb inflation put pressure on house builders. Persimmon and Taylor Wimpey lost 6.31% at 1,188.50 pence and 3.72% at 93.62 pence, respectively.

Banks were also lower with HSBC losing 6.05% at 1,195.80 pence as the lender also went ex-dividend.

The London FTSE 100 closed down 0.47% at 10,305.15 points.

(RADIOCOR) 12-03-26 18:15:45 (0654) 5 NNNN