FTSE 250 movers: Energy shares gush higher on rising oil prices; Wizz flies lower

London's FTSE 250 was down 0.8% at 20,037.24 in afternoon trade on Monday amid heightened geopolitical tensions.

Tullow Oil was the standout gainer after saying that its Joe-1 exploration well had successfully opened a new Upper Tertiary oil play in the Guyana basin. The company said sampling data confirmed that Joe-1 encountered 14 metres of net oil pay in high-quality oil bearing sandstone reservoirs of Upper Tertiary age.

It was also boosted by surging oil prices after drone attacks on two Saudi Arabian oil processing facilities over the weekend.

Premier Oil, Wood Group, Hunting, Cairn Energy, Petrofac and Energean Oil & Gas also gained.

Neil Wilson at Markets.com said the explorers were even bigger beneficiaries of the spike in oil prices than oil companies such as BP and Shell, "as they stand to gain the most from supply shortages and disruption to existing channels, as well as higher prices being more generally supportive of drilling".

Gold miner Acacia shone as prices of the yellow metal rose amid heightened geopolitical tensions.

On the downside, budget airline Wizz Air flew lower as higher oil prices will impact on margins for airlines.

FTSE 250 - Risers

Tullow Oil (TLW) 244.40p 9.94%
Premier Oil (PMO) 93.28p 9.30%
Wood Group (John) (WG.) 444.10p 7.53%
Hunting (HTG) 518.50p 5.60%
Cairn Energy (CNE) 201.00p 4.69%
Petrofac Ltd. (PFC) 450.30p 2.06%
Amigo Holdings (AMGO) 75.10p 1.90%
Acacia Mining (ACA) 234.80p 1.29%
Energean Oil & Gas (ENOG) 961.00p 1.16%
Kainos Group (KNOS) 442.00p 1.14%

FTSE 250 - Fallers

Sirius Minerals (SXX) 10.37p -7.16%
CYBG (CYBG) 124.65p -5.21%
Intermediate Capital Group (ICP) 1,385.00p -4.35%
Contour Global (GLO) 186.00p -4.12%
Vivo Energy (VVO) 126.20p -4.10%
Intu Properties (INTU) 43.15p -4.07%
Games Workshop Group (GAW) 4,500.00p -3.97%
Wizz Air Holdings (WIZZ) 3,410.00p -3.92%
Countryside Properties (CSP) 322.00p -3.48%
NewRiver REIT (NRR) 187.60p -3.30%