CoinMeta data: Rising oil prices have driven up market expectations for a rate hike by the Bank of England in November. As there has been no breakthrough in the conflict between the United States and Iran, oil prices continue to rise, exacerbating concerns about renewed inflationary pressures. Brent crude oil futures prices once rose by 2.3% to $106.7 per barrel. Data from the London Stock Exchange Group ( LSEG ) shows that the market currently expects a 81% probability of a rate hike by the Bank of England at its November policy meeting, up from 62% a week ago.