Oil price is torturing markets again

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The FTSE 100 index has shed 23.7 points to 5055.3 points this morning as rising oil prices have continued to weaken markets across the board.

British Airways leads the fall, down 5.75p to 270p, after announcing it will raise airline fuel surcharges to keep up with rising crude oil prices, currently at a year-to-date increase of 39%. British building materials business, BPB has lost 10.50p to 519.5p. Reuters and high street retailer Next have also declined this morning, down 6.25p to 389p and 20p to £14.60 respectively. Intercontinental Hotels Group, meanwhile, has picked up 15.5p to 705.5p, along with Reckitt Benckiser, up 11p to £16.29. The Nikkei 225 Stock Average index also shed 1.1% to 11,414.28, on the back of record...

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