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Markets

Oil stocks buoy FTSE 100 amid U.S-Iran standoff

Published June 24, 2019 Updated June 24, 2019 08:10am
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By Madiha ShakeelReuters
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London's main index edged up on Monday, boosted by oil stocks as the potential for supply disruptions due to tensions between the United States and Iran pushed crude prices higher.

The FTSE 100 added 0.1% and the FTSE 250 rose 0.2% by 0707 GMT.

Oil major Shell continued its recent rally and advanced for the seventh straight session, while BP was also a major plus for the blue-chip index.

Small-cap Nostrum Oil & Gas jumped 5% after the Kazakh-focussed oil firm said it was evaluating options including a sale of the company.

Copyright Reuters, 2019

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