Efforts to curb energy prices through the coordinated release of strategic oil reserves look to be having little impact after Brent crude traded above $80 a barrel today.
The estimated 70 to 80 million barrels of additional supply from the US and other major oil consuming nations is below the 100 million-plus expected on Wall Street.
Amid fears that Opec and its allies might respond by cancelling or reducing plans to increase production, Brent crude rose overnight and consolidated those gains today.
On the corporate front, today's session sees results from United Utilities and the speciality chemicals firm Johnson Matthey.
