Oil and gas slide on FTSE 100

By MoneyhighStreet Staff. Published on November 12, 2008 This post currently has no comments.

oil field
Oil and gas producers were among the losers on the FTSE 100 today, which closed at 4,169.70 points.

Increasing concern over the state of the global economy has sent oil prices tumbling around the world.

Cairn Energy was one of the biggest fallers on the index in the sector, falling 5.85 per cent to close at 1504, down 102 points compared to when the market opened.

British Gas Group share price also fell significantly closing at 855, 49 points lower than in the morning.

Other losers were BP, which fell 23 points to close at 476.25 points, and Tullow Oil, which fell by 4.22 per cent to close at 477 points.

Iran''s oil minister has announced that the Organisation of Petroleum Exporting Countries (Opec) may call an emergency meeting before next month in light of the recent price slides.

http://www.inthenews.co.uk/news/autocodes/countries/india/oil-prices-fall-2007-levels-$1248966.htm
http://www.londonstockexchange.com/en-gb/