Oil prices have moved further away from $100 a barrel as ceasefire hopes fade in Ukraine and the energy industry ramps up warnings of a major supply shock from Russian sanctions.
Brent crude was near to $110 a barrel today, having surged by 9% yesterday.
Stock markets continue to weather the energy price storm, however, with the FTSE 100 index holding on to this week’s gains after the Bank of England said it expected that future interest rate rises will be modest.
