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FTSE 100 falls as oil prices climb after US strikes on Iran
FTSE 100 slips as oil prices rise following a reported US attack on Iran's Qeshm Island.
Key points
- Brent crude has crept above $106 per barrel following reports of a US attack on Iran's Qeshm Island.
- The reported strike appears to be the latest in a series of limited military operations allegedly carried out by Washington.
- Bank of America analysts wrote that Korea and Taiwan equity outflows continue, given concerns about the tech cycle's sustainability.
Why it matters. With diplomatic negotiations still ongoing, rising oil prices and worries over AI spending could keep pressure on the FTSE 100.
London's blue-chip FTSE 100 came under pressure on Tuesday morning as Brent crude nudged higher. Brent has crept above $106 per barrel after reports of a US attack on Iran's Qeshm Island, a strategic military location controlling the Strait of Hormuz. Bank of America analysts said Korea and Taiwan equity outflows continue to dominate amid concerns about AI spending.
Latest updates
FTSE 100 falls as oil prices climb after US strikes on Iran
London's blue-chip FTSE 100 index came under pressure on Tuesday morning as the price of oil rose. The move followed US strikes on Iran, which raised concerns about wider disruption to Middle East energy supplies. Rising oil prices typically hit share prices across the market, particularly for airlines and consumer companies that depend on fuel costs. The situation is developing and the live blog will track market moves through the session. Investors will be watching for any further escalation or diplomatic progress.
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.