FTSE 100 oil heavyweights are back in analysts favour after oil prices surged from the intensifying Middle Eastern conflict.
BP and Shell shares have jumped around three per cent in the last week and climbed further as President Donald Trump weighed in on the attacks in Israel and Iran.
Oil trading has seen some of its most volatile days in recent history as non-stop missile strikes exchanged between Israel and Iran ratcheted up fears of potential supply disruptions from the Middle East. Amidst unsubstantiated reports of the two sides seeking a ceasefire, the risk premium is back in the ICE Brent as the global crude benchmark remains around the $75 per barrel mark.