Oil stocks hinder FTSE 100 again

The FTSE 100 edged 38.3 points lower to 5209.5 today with weakness in the oil sector proving to be the index's stumbling point again. Sentiment in the oil sector was dented after BP announced that margins from refining oil and selling fuel fell to a decade low in the first quarter. As expected the Bank of England held interest rates at 4% for the fifth month in a row. City confidence was also deflated after a US government report showed initial jobless claims bulged last week to the highest level in four months, against expectations. BP fell 15p to 610p after it...