Oil stocks buoy FTSE 100 amid U.S.-Iran standoff

Oil stocks buoy FTSE 100 amid U.S.-Iran standoff
FILE PHOTO: Traders looks at financial information on computer screens on the IG Index trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson -
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(Reuters) – London’s main index edged up on Monday, boosted by oil stocks as the potential for supply disruptions due to tensions between the United States and Iran pushed crude prices higher.

The FTSE 100 added 0.1% and the FTSE 250 rose 0.2% by 0707 GMT.

Oil major Shell continued its recent rally and advanced for the seventh straight session, while BP was also a major plus for the blue-chip index.

Small-cap Nostrum Oil & Gas jumped 5% after the Kazakh-focussed oil firm said it was evaluating options including a sale of the company.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Bernard Orr)

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