Brent crude strengthened by Saudi cuts

Brent crude strengthened by Saudi cuts

The FTSE 100 rose into positive territory during the morning session, up 0.323pc at 7,152.15, which comes after data showed inflation dropped below the Bank of England’s 2% target.

Brent crude strengthened gains, climbing 1.51pc to $63.36, after top exporter Saudi Arabia said it would reduce crude exports to deliver a deeper cut to production.

Inflation data, which fell to a two-year low, and concerns over the progress of Brexit negotiations held Sterling below the $1.29 mark against the dollar.

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