Commodities
UK Stock Market Tumbles as Oil Prices Soar Above $91
The UK stock market continued its decline on August 18, marking its sixth consecutive losing session. The FTSE 100 closed at 10,720.30, down 0.28% from the previous day.
The main reason for the market's downturn is the sharp rise in crude oil prices, with Brent climbing above $91 a barrel due to renewed uncertainty over the US-Iran conflict and concerns about potential disruption to energy supplies through the Strait of Hormuz.
Investors are closely watching the Middle East situation as well as the latest move in commodity markets. The FTSE 100 has been struggling to regain momentum, with consumer stocks weighing heavily on Monday's session.