FTSE 100 rises as miners offset BP and Shell losses on oil price drop

The FTSE 100 rose about 0.3% on Wednesday, reaching roughly 10,886, as mining stock gains offset sharp declines in BP and Shell following another drop in oil prices. Brent crude fell to around $86 per barrel amid hopes Iran-Oman talks could ease Strait of Hormuz traffic, with BP and Shell dropping over 2%. Basic resources led European sectors, while lower oil reduced inflation pressure and bond yields. Banks like NatWest remained favored by analysts, while Nvidia earnings and US PCE inflation data later Wednesday were seen as key tests for global markets.