Brent crude edges towards $80

Brent crude edges towards $80

The FTSE 100 was down 0.135pc at 7,263.75, despite a strong performance across the mining sector, following the announcement that China will ask the World Trade Organisation’s permission to impose sanctions on the US next week.

Big Six energy provider SSE dropped 7.64pc after announcing a profit warning, which had a knock-on effect on Centrica, which dropped 3.21pc.

Brent crude edged closer to the $80 mark, up 0.18pc at $79.20 as concerns mount over global supply as the US saw a decline in inventories and fears grow over the prospect of the loss of Iranian supply.

Sterling fell as much as 0.25pc to a low of $1.2994 against the dollar with reports of a leadership challenge to UK Prime Minister Theresa May weighed on sentiment.

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