FTSE 100 near record highs, but $90 oil could change the picture fast

Impact · against what's priced in

Rising Brent crude prices toward $90 act as a positive catalyst for BP and Shell through earnings leverage, while creating headwind for Tesco via margin compression. The outlook for retail is further dampened by anticipated inflation prints that may keep interest rates elevated.

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In context

Brent crude climbing toward $90 provides a direct earnings tailwind and leverage for energy majors.

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• geopolitics▲8%
• energy▲6%
• oil
• retail
• inflation
• rates
• BP
• SHEL