Oil supply issues and the possibility of a price cap on Russian energy exports today ensured no let-up in inflationary pressures.
Brent crude is up for a third session in a row and at one point stood at $117 a barrel, reflecting the G7’s latest sanctions plan and speculation that two of the world’s major oil producers are near capacity limits.
Shares in sportswear giant Nike were lower last night despite better-than-expected full-year results, but London’s FTSE 100 index traded higher today on the back of further gains for mining and oil companies.
