Key facts
- The FTSE 100 index was largely unchanged on Tuesday.
- Energy stocks' gains helped counterbalance broader market declines.
- Oil prices reached multi-week highs before easing.
- Market risk appetite waned during an economic data-packed week.
London's FTSE 100 index remained largely unchanged on Tuesday, as high oil prices affected market risk appetite. Energy stocks' gains offered some support against broader market declines. The FTSE 100 index fell by 0.6% to 10,816.59 points by 1022 GMT, with the mid-cap FTSE 250 also sliding by 0.24% during this period. Oil prices had reached multi-week highs, influencing market sentiment amid an economic data-packed week. Competing pressures from oversupply forecasts and geopolitical tensions continue to affect oil markets, with OPEC+ production decisions playing a key role in balancing supply and demand.