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27 Aug 2013 | 10:56 Nick Paler The FTSE 100 was off around 1% this morning while oil prices climbed, as unrest in the Middle East threatens to escalate. Returning after the long weekend, investors in the UK were quick to sell stocks after a rough Monday session overseas, amid comments from leading US politicians who said Syria will be held to account if it is found to have used chemical weapons against its own people. The UK’s blue chip index was off 60 points at 6,432 by mid-morning as a result, with stocks also impacted by rising oil prices. International Consolidated Airlines led the fallers, the stock down 3.4%, after the oil price ticked up 0.6% to $111.4 a barrel for Brent crude. European shares were more heavily impacted by Middle East tensions, with both the French CAC 40 and the German DAX off 1.5% and 1.6% respectively. Losses were piling up after falls in the US overnight, with the Dow and the S&P 500 both closing 0.4% lower. As political outrage at Syria threatens to morph into full-blown military intervention, gold prices picked up, with the precious metal climbing above $1,400 for the first time since June. Continue reading →