Oil prices down on record high US production

Oil prices down on record high US production

The FTSE 100 edged 0.114pc higher at 7,685.02 with oil giant Royal Dutch Shell amongst the top performers during the morning session, up 1.14pc.

Meanwhile miners were amongst the worst performers on the FTSE 100 with Anglo American and Antofagasta down 1.94pc and 2.59pc respectively.

Brent crude dropped 1.19pc at $72.03 as a result of record high US production and an unexpected increase in US crude stock piles.

Sterling fell below $1.3 against the dollar after it fell 0.7pc to $1.2984 after new data heightened concerns that a central bank hike might not happen next month.

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