UK economy grows faster than expected; oil prices drop as US considers big oil reserve release – business live

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UK economy grows faster than expected; oil prices drop as US considers big oil reserve release – business live
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Joe Biden expected to announce release of up to 180m barrels from US strategic petroleum reserve

UK house prices grew at the fastest annual pace since 2004 in March, continuing the ascent to new record levels – a fifth higher than at the start of the coronavirus pandemic, reports my colleague Jasper Jolly. Prices rose by 14.3% in the year to March, the strongest pace of increase since November 2004 when the UK experienced a housing boom that preceded the financial crisis, according to Nationwide, the UK’s largest building society.

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