Oil spikes amid fears Israel may strike Iranian refining infrastructure
An oil and gas reserve in Ahvaz, Iran. Oil prices rose amid fears Israel may hit Iran's infrastructure. Photograph: Solmaz Daryani/The New York Times
The blue-chip FTSE 100 index was down 0.1 per cent while the mid-cap index FTSE 250 eased 0.2 per cent. Gold also lost ground as the dollar strengthened as markets reassessed the likelihood of another 0.50 per cent Federal Reserve rate cut. The automobile sector declined 2.1 per cent with Milan-listed shares of Stellantis down 4 per cent. Construction and materials shed 2 per cent, bogged down by a 4.8 per cent decline in French firm Bouygues after lowering its 2026 sales and profit expectations.Wall Street’s main indexes were mixed on Thursday after data showed strong service activity in the world’s largest economy, while cautious investors watched for any escalation in the Middle East conflict.
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