The FTSE 100 index has closed the day up on the back of a rising oil price and the prospect of problems with supply and distribution from US refineries if Hurricane Rita hits land.
It is actually the oil firms such as Royal Dutch Shell – which closed up 0.9% to £18.53 - which have driven trading as a higher oil price means potentially higher profits, and helped the FTSE 100 index to finish the day 16 points or 0.3% up at 5385.7. Cairn Energy also rose 33p or 1.7% to £20.18 as an analyst has raised share price expectations from £22.40 to £24.00 a share, given its position in oil exploration. With the current oil spot price for November delivery rising a further 2% to $68.14 a barrel, British Airways fell 5.25p or 1.8% by the end of the day to 283.5p as a higher o...
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