The FTSE 100 declined 15 points this morning to 7,522.59 as packaging firms Mondi and Smurfit Kappa suffered.
Brent Crude meanwhile continued steady growth from Tuesday rising 0.14 to $56.75 a barrel.
The President of Facts Global Energy (FGE), Jeff Brown, predicted that the low oil price will be present for the foreseeable future. Speaking the Reuters Global Commodities Summit he said: “We don’t see big reasons for inventories to go down a lot from still high levels now. Hence we don’t see big reasons for prices to go up or down by much in 2018, and it’s similar for 2019”.