The FTSE 100 rose 0.2% as the conflict in the Middle East continued to push up oil prices after further missile strikes on the first anniversary of Hamas’ attack on Israel last October.
The UK blue-chip index advanced 16.5 points to 8,297 as heavyweights Shell (SHEL) and BP (BP) gained 1.8% and 1.5% following a further 1.8% rise in Brent crude to $79.4 per barrel.
Shell’s gain came despite the company reporting a sharp drop in refining profit margins in the third quarter versus the previous three-month period, with earnings from oil trading also down. It did, however, revise its outlook for upstream oil and gas production higher.
