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Oil prices rise amid defensive moves after death of Iran president
Evening Standard
|May 20, 2024
LONDON'S FTSE 100 kept positive today, staying within reach of last week's record high, but there was a defensive feel to the leaderboard with traders keeping watch on news out of the Middle East.
The death over the weekend in a helicopter crash of Iran's president and foreign minister stoked a sense of caution. Gold, known across global markets for its safe haven status at times of geopolitical tension, added over $27 to $2,444.60 an ounce.
Oil prices often sensitive to events that could affect key areas of production in and around the Gulf - were also higher. Brent crude gained $0.22, or 0.3% to $84.20 a barrel.
The best single gainer on London's top tier share index was Fresnillo, the Mexican silver miner. It added 19p to 634p, a rise of around 3 per cent.
This story is from the May 20, 2024 edition of Evening Standard.
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