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Oil prices rise as US crude stocks drop

Oil prices have increased by more than 1% following a fall in US crude stocks and striking oil workers in Norway.

Oil prices have increased more than 1.5% after US industry data highlighted a fall in crude inventories.

The FTSE 100 index slips as mining stocks fall following Glencore's latest results, while South African-focused stocks are hit by the weak rand.

Oil prices have plunged following a surprise increase in US crude stocks that revived worries about the supply glut.

Japanese stocks are trading lower after the yen surged to more than 100 per dollar for only the second time this year.

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