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FTSE 100 keeping a close eye on oil as price falls extend

Following on from the penultimate update here, Oil prices has fallen further and now the price of Brent crude for February delivery has taken out any possible support at $76.70 as is dropped close to $76.30 a moment ago. That move will not be lost on the FTSE 100. The UK index is heavily populated with oil stocks and it could be; this latest fall is keeping the FTSE in check. Earlier this morning, it looked like the FTSE 100 might make some further headway above 7,500, when the index rose to a session high so far, at 7,525 after closing yesterday at 7,489. Well, it seems this further oil price drop might have helped to put the brakes on that move for the time being. The FTSE 100 is currently trading at 7,509 
 

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