Brent crude started at $107.17/bbl, increasing throughout the entire month, before finishing on a high of $123.35/bbl as an EU Russian oil ban causes major supply concerns.

GBP started steady at $1.257 against USD, whilst dropping to a mid-month low of $1.217, then steadily increasing for the remainder of the month, before finishing at $1.261.

The UK Government announced a £5bn windfall tax on energy companies, as part of a £15bn support package that will help households through the cost-of-living crisis.