Oil giants slip despite Iraq co-operation with UN

OIL giants BP and Shell weighed on the London market yesterday as the FTSE 100 Index failed to make any progress in another quiet session.

Hopes that Iraq’s co-operation with UN weapon inspectors will take the pressure off global oil prices caused both BP and Shell to lose ground.

And despite strong gains by struggling business services group Hays, the falls were enough to push the Footsie down 1.6 points to 4094.9.