Brent crude down on added US rigs

Brent crude down on added US rigs

The FTSE 100 edged 0.374pc lower to 6,783.75 as concerns over a slowdown in China offset gains made following the reopening of the US government, although losses were capped after mining stocks added 1.5pc to become the blue chip’s best performers.

Brent crude plummeted 1.59pc to $60.66 as oil prices dropped as the US added rigs for the first time this year, suggesting crude output could rise further, although it remains on course for its best January, in terms of gains, in 14 years.

Sterling edged 0.25pc lower against the dollar at $1.3162 after posting its biggest weekly gain in over 15 months, as investors strengthen their positions prior to crucial votes in parliament that will aim to resolve the Brexit deadlock.

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