Energy majors buoy FTSE 100 as oil climbs again

Published by
Reuters UK

By Sruthi Shankar (Reuters) – UK’s FTSE 100 rose on Monday as surging oil prices boosted shares of energy majors, although concerns about inflation and a handful of brokerage downgrades checked overall market gains. The commodity-heavy index advanced 0.5%, hitting its highest level in more than two weeks. Both Shell and BP gained about 2.5%, tracking a jump of more than $3 in Brent crude prices after news that European Union governments will consider whether to impose an oil embargo on Russia over its invasion of Ukraine. [O/R] Miners such as Glencore and Anglo American also edged higher as Lo…