businessLIVE
FTSE 100 Falls as BP and Shell Drop With Oil Prices
The FTSE 100 fell as BP and Shell shares dropped with oil prices.
Key points
- Brent crude traded just below $110 per barrel on Monday morning.
- Brent's move erased some gains made last week after reports Trump was weighing fresh military action on Iran.
- The Bank of England meets this week and is broadly expected to hike interest rates.
Why it matters. Oil price swings linked to the Middle East conflict, and a Bank of England meeting where a rate hike is broadly expected, could shape UK market moves this week.
Brent crude traded just below $110 per barrel on Monday morning, erasing some of last week's gains after reports that President Trump was weighing fresh military action on Iran. Overnight in Asia, shares broadly moved higher despite tech volatility over growing worries that the AI buildup may prove to be a bubble. The FTSE 100 also faces a Bank of England meeting this week, where the monetary policy committee is broadly expected to hike interest rates.
Latest updates
FTSE 100 Falls as BP and Shell Drop With Oil Prices
The FTSE 100 opened the new trading week lower, with BP and Shell leading the decline after a drop in oil prices, according to City AM's live blog. Energy stocks typically track crude prices, so a fall in oil weighs heavily on the two oil majors. The blog says global markets are preparing for a series of significant events during the week. The coverage is updated as the session progresses. The live report did not provide final index closing figures in the material available.