Oil prices surge due to geopolitical tensions, benefiting Shell and BP stocks, which play a significant role in stabilizing the FTSE 100 amidst market fluctuations.

Wall Street opened slightly lower while oil and gold rose as Tuesday marked the fifth day of fighting between Israel and Iran, with the risk of a widening conflict dampening risk appetite in a week also packed with key central bank decisions.

Oil prices jumped on Wednesday as a U.S.-China trade deal and soft inflation report boosted demand expectations and geopolitical concerns sparked fear of supply disruptions.