Oil prices rise amid defensive moves after death of Iran president
Evening Standard|May 20, 2024
LONDON'S FTSE 100 kept positive today, staying within reach of last week's record high, but there was a defensive feel to the leaderboard with traders keeping watch on news out of the Middle East.
Michael Hunter
Oil prices rise amid defensive moves after death of Iran president

The death over the weekend in a helicopter crash of Iran's president and foreign minister stoked a sense of caution. Gold, known across global markets for its safe haven status at times of geopolitical tension, added over $27 to $2,444.60 an ounce.

Oil prices often sensitive to events that could affect key areas of production in and around the Gulf - were also higher. Brent crude gained $0.22, or 0.3% to $84.20 a barrel.

The best single gainer on London's top tier share index was Fresnillo, the Mexican silver miner. It added 19p to 634p, a rise of around 3 per cent.

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