Sector Review
Sector movers: Big Oil proves biggest drag amid demand concerns
By Alexander Bueso
Date: Tuesday 20 Aug 2024
(Sharecast News) - Big Oil was the biggest drag on the FTSE 350 amid concern about global oil demand.
News that Israel had acquiesced to a US sponsored ceasefire proposal added to the selling pressure and dragged front-dated Brent crude oil 0.4% lower to $77.28 a barrel on the ICE.
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