FTSE 100 Expected to Drop; Trump Pauses Iran Strikes Amid Hormuz Talks
The FTSE 100 is expected to open lower on Monday, with futures indicating a 19-point drop (0.18%), following a week of renewed Middle East hostilities. Brent crude oil reached a two-month high of $100 per barrel on Thursday before easing slightly on Friday. Over the weekend, US President Donald Trump paused strikes on Iran as an Omani delegation pursued negotiations to secure shipping transit through the Strait of Hormuz. On Sunday, an oil tanker exploded after hitting a naval mine in the Strait, according to Iran's Tasnim news agency. The Bank of England's Monetary Policy Committee is widely expected to hold interest rates on Thursday, but RSM UK chief economist Thomas Pugh warned that if oil prices remain near $100 per barrel, a September rate hike could become likely. The FTSE 100 defied global caution last week, gaining 1.3%.
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