The FTSE 100 is anticipated to open higher this morning, Friday 28 August 2026, according to futures from investment platform IG. This follows a night where oil prices rebounded, reversing earlier losses in the week.
The international benchmark for oil, Brent crude, saw its price jump by approximately 1.5 per cent, returning to $90 a barrel. This rise occurred amidst conflicting signals regarding potential improvements in oil supplies.
Confusion over Middle Eastern negotiations persisted, with reports of Iran's military reaching a revenue-sharing agreement with Oman over a vital trade route. However, Tehran clarified that this deal would not enforce the immediate reopening of the strait. Qatar's prime minister reportedly visited Tehran to discuss a deal concerning the Strait of Hormuz, yet the White House maintained that no negotiations are taking place between the US and Iran.
President Donald Trump's press secretary, Karoline Leavitt, stated that "No negotiations are happening right now and this will continue until the president feels that maybe they come to the table in a meaningful way. We have not seen that yet."
In the US, tech stocks saw significant gains on Thursday following Nvidia's sales more than doubling. Conversely, the FTSE 100 experienced a downturn, with companies such as HSBC, Shell, AstraZeneca, and British American Tobacco contributing to the market's decline, according to Dan Coatsworth, AJ Bell’s head of markets.