(Sharecast News) - London's FTSE 100 was down 0.4% at 10,569.11 in afternoon trade on Thursday.
BP and Shell gushed higher as oil prices rose amid uncertainty over the US-Iran ceasefire.
Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said: "The Strait of Hormuz, which handles around 20% of global crude and gas flows, remains largely obstructed, and Iranian media reports suggest that oil tanker traffic through the Strait has been suspended again following the attacks by Israel.
"Oil prices will likely remain elevated and choppy until a more permanent agreement is struck between all parties, and on that front, US Vice President JD Vance is set to lead a US delegation to Islamabad for direct talks with Iran this weekend."
Sales, marketing and support services group DCC was also in the black after an upgrade to 'outperform' from 'neutral' by BNP Paribas, which lifted the price target to 6,000p from 5,500p.
BNPP cited the current valuation and the positive impact of energy prices.
Ladbrokes owner Entain and Flutter Entertainment both tumbled as Swedish gambling firm Betsson tanked on the back of disappointing first-quarter results.
Standard Life, Reckitt Benckiser and Croda all fell as they traded without entitlement to the dividend.
FTSE 100 - Risers
BP (BP.) 580.80p 2.88%
United Utilities Group (UU.) 1,390.50p 1.76%
Diploma (DPLM) 6,605.00p 1.69%
Severn Trent (SVT) 3,251.00p 1.69%
DCC (CDI) (DCC) 5,060.00p 1.61%
Shell (SHEL) 3,459.50p 1.47%
SSE (SSE) 2,747.50p 1.42%
Hiscox Limited (DI) (HSX) 1,597.00p 1.27%
National Grid (NG.) 1,350.80p 1.26%
IG Group Holdings (IGG) 1,461.00p 1.25%
FTSE 100 - Fallers
Entain (ENT) 549.20p -5.82%
Flutter Entertainment (DI) (FLTR) 7,698.00p -4.78%
Standard Life (SDLF) 701.20p -4.26%
Barratt Redrow (BTRW) 257.80p -3.59%
The Sage Group (SGE) 823.40p -3.37%
Reckitt Benckiser Group (RKT) 5,178.00p -3.07%
Croda International (CRDA) 2,912.00p -2.90%
Informa (INF) 782.80p -2.73%
Persimmon (PSN) 1,142.00p -2.72%
Compass Group 11 (CPG) 28.42p -2.33%