FTSE 100 Ticks Down Amid Rising Oil Prices and Copper Frenzy
The FTSE 100 index ended Tuesday's session just 0.1% lower at 10,811.66, as mining sector strength offset concerns over rising oil prices.
Brent crude prices reached a six-week high of $99.46 a barrel before retreating to $97.32, while West Texas Intermediate rose 0.8% to $92.20 amid heightened tensions in the Middle East following an attack on Saudi Arabia's oil facilities.
Dan Coatsworth, head of markets at AJ Bell, said rising Brent crude prices underscored Tehran's control over the Strait of Hormuz, and investors will be watching US inflation data later this week to gauge the impact of energy price hikes on broader inflationary pressures.