US sanctions cause oil price to tumble

US sanctions cause oil price to tumble

The FTSE 100 fell by 0.12pc to 7,085.43, after PMI data shows a seven-month low in services.

Brent crude fell by 30 cents a barrel at $72.50 by the introduction of US sanctions against Iran’s oil exports.

Sterling is now at $1.30 against the dollar up 0.30pc and 0.35pc above the euro at €1.14, following rumours that the UK government is on track to secure a deal with the European Union.

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