FTSE 250 movers: Oil stocks jump on crude price rally amid Iran tensions

(Sharecast News) - FTSE 250 (MCX) 23,578.92 -0.45% Geopolitical tensions pushed Brent crude prices to their highest level in six months, with both Brent and West Texas Intermediate jumping more than 4% on Wednesday, sending Brent back above $70 per barrel.

Media reports overnight stated that the US was ready for possible strikes on Iran as soon as this weekend, but President Donald Trump had yet to make a final decision on whether to carry out an attack. Trump has repeatedly demanded Iran cease its nuclear program and has warned he would use force if no deal was agreed.

According to the New York Times, CBS News and CNN, the US military has assembled sufficient air and naval resources in the Middle East to launch an attack in the coming days.

The news also drove energy stocks higher, with Diversified Energy, Ithaca Energy and Harbour Energy all up.

Wizz Air, which is sensitive to oil price movements, fell sharply.

FTSE 250 - Risers

Diversified Energy Company (DI) (DEC) 1,036.00p 5.28% Ithaca Energy (ITH) 206.50p 3.35% Harbour Energy (HBR) 229.20p 2.69% WPP (WPP) 278.00p 2.51% Trainline (TRN) 201.40p 2.34% Playtech (PTEC) 346.00p 2.06% Pinewood Technologies Group (PINE) 313.00p 1.95% Ocado Group (OCDO) 232.40p 1.93% Coats Group (COA) 89.70p 1.82% Trustpilot Group (TRST) 136.60p 1.71%

FTSE 250 - Fallers

Wizz Air Holdings (WIZZ) 1,309.00p -5.69% HGCapital Trust (HGT) 435.50p -3.97% Ceres Power Holdings (CWR) 293.00p -3.68% Plus500 Ltd (DI) (PLUS) 4,324.00p -3.05% BioPharma Credit (BPCR) 0.94p -2.68% Oxford Biomedica (OXB) 786.00p -2.60% OSB Group (OSB) 598.00p -2.37% BlackRock World Mining Trust (BRWM) 957.00p -2.35% NCC Group (NCC) 132.80p -2.21% Raspberry PI Holdings (RPI) 401.70p -2.02%