Brent crude down after increase in US output

Brent crude down after increase in US output

The FTSE 100 edged up to 7,351.38 this morning after the sterling slid following Prime Minister Theresa May’s failure to secure a deal to open post-Brexit free trade talks with the EU.

The sterling edged down to $1.3425 against the dollar following Theresa May’s Brexit negotiations yesterday, that failed to move to the next phase.

Brent crude was down 0.16pc to $62.35 as traders shifted their focus from OPEC’s output deal to a considerable increase in US output.

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