FTSE 100 Live: Stocks to drop as oil higher after Saudi drone attack

Welcome back to the City AM FTSE 100 liveblog. London's blue-chip index is set to decline this morning following a turbulent week of trading. Oil prices have surged due to a drone strike on Saudi Aramco's Shaybah oil field, resulting in the death of two individuals. This incident has reignited tensions in the Middle East and increased concerns regarding potential disruptions to energy supplies.

Brent crude, the global benchmark for oil prices, is currently trading above $111, marking a reversal of earlier week's losses. The geopolitical uncertainty in the Gulf region has adversely affected Asian stocks, even as tech earnings offered some relief. We will continue to provide updates on the latest developments from the London Stock Exchange and the broader business landscape as they occur.

Here are some of our key headlines for today: Budget 2026 - Consumer confidence sinks as Healey calls for slowing 'tsunami of costs'; Modella withdraws from Poundland acquisition race; Former cost of living adviser Richard Walker calls for 'aggressive' tax reforms; Fuse tackles UK AI power crisis with a bet on 'faster' data centers; Manchester City faces justice for Premier League and UEFA's sake, according to Tebas. The liveblog has concluded. No liveblog updates are available at this time.