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FTSE 100 dips on rising oil and inflation fears

Britains FTSE 100 edged lower as rising oil prices reignited inflation concerns. Investors turned cautious ahead of the upcoming Bank of England policy decision and US midterm elections.

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FILE PHOTO: Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo

The United Kingdom's FTSE 100 fell 0.5% to 10,705.31 points on Tuesday morning as a rebound in crude prices weighed on risk appetite. The decline precedes upcoming central bank decisions and elections in the United States​.