Stocks fall as oil price hits $46 a barrel

The FTSE 100 index closed 36.9 points or 0.81% lower at 4541 thanks to the pressure firms and their profit margins will face if the oil price remains high. Earlier this morning, the Brent London oil price rose to its highest ever level at $46 a barrel, which in turn suggest all other firms may have to pay more in operating, energy and distribution costs. Some analysts had hoped the markets would close up with a decent rise at the end of the year as the oil price per barrel had begun to fall. Now, however, traders suspect the FTSE 100 will struggle to deliver any real gains. But the...