FTSE 100 Set for Soft Open Amid Oil Price Spike

The FTSE 100 is set to open slightly lower on Wednesday as tensions in the Middle East push oil prices higher.

Renewed hostilities between the US, Saudi Arabia, and Iran-backed militants led to a rebound in Brent crude prices, which rose to $87.11 a barrel.

The Federal Reserve's interest rate decision is also on investors' minds, with economists expecting rates to remain unchanged but money markets pricing in further tightening before the end of the year.

Wall Street finished mixed overnight, with the Dow Jones Industrial Average climbing 1% and the S&P 500 reaching a record high, but the Nasdaq Composite slipped 0.2% due to semiconductor stocks remaining under pressure.