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Iran's plan to increase output by about 200,000 barrels this year changes the math on Saudi Arabia's plan to cut OPEC production.
Benchmark 10-year Gilt yields push past 1.16%, the highest level since the Brexit vote.
Total's investors are unimpressed by a sale which reduces diversification even if it should boost earnings per share this year.
The FTSE 100 gains more than 1% as oil shares rise.