As it happened: FTSE 100 slide as oil price jumps; Global bond yields higher

Welcome back to City AM‘s FTSE 100 liveblog.

Global markets are swimming in the red as the price of oil trends higher following tensions in the Middle East offsetting a rise in supply.

Brent crude – the international benchmark for oil prices – tipped over $101 per barrel on Wednesday following intensified attacks on tankers in the Strait of Hormuz in recent days.

The UK Maritime Trade Operations has recorded nine incidents so far this month. Meanwhile, a Saudi-led coalition said it had intercepted and destroyed a ballistic missile launched by the Houthis toward Khamis Mushait in Saudi Arabia.

Stick with us throughout the day for the latest news from the London Stock Exchange and the wider business world, as soon as we get it.

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