Oil ensures crude markets

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Crude oil is playing havoc with the markets, with the FTSE losing about 18 points to 5,096.30 points this morning, led by British Airways.

Oil prices for August added 2.3% to $59.42 a barrel in New York. During yesterday prices peaked at $60, with crude up 58% in the past year. Airline BA, has shed 6p to 273p, after announcing higher oil prices mean it will up its fuel surcharge on airline tickets for the second time this year, before the end of the month. Rolls Royce Group has also declined 5.75p to 288p, after analysts raised its target on the group, while keeping a neutral rating. On the other end of the board, BT has picked up 8.50p to 226p, while energy and gas firm Centrica has profited 6.75p to 230.75p. In Tokyo...

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