Brent crude up on lower US inventories

Brent crude up on lower US inventories

Positive economic statistics helped the FTSE 100 edge up 0.240pc at 7,348.69, although trade war tensions between the US and China, as well as Brexit concerns limited gains.

Brent crude edged closer to $80, up 0.34pc at $79.67, following news of another drop in US crude inventories and suggestions that OPEC might not raise levels of output.

Sterling rallied 0.4pc at $1.3207 against the dollar – just short of the two-month high it achieved on Wednesday at $1.3215 – helped by a weaker dollar, although Brexit continues to be the key driver for the UK currency.

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