The European Commission said on Monday it was important to determine the facts behind the attack on Saudi Arabia’s oil facilities before establishing who was responsible.
The oil market is resilient and will react positively to the attack on Saudi Arabia’s oil industry, U.S. Energy Secretary Rick Perry said on Monday, blaming the attack firmly on Iran.
The German government said on Monday its supply of oil was not affected by attacks at the weekend against Saudi refineries and any decision to release strategic reserves needed to be made jointly with members of the International Energy Agency (IEA).
U.S. Energy Secretary Rick Perry said on Monday he believes the oil market will react positively to the weekend attack on Saudi Arabia’s oil industry, which Washington has blamed on Iran.
An attack on Saudi Arabia that shut 5% of global crude output caused the biggest surge in oil prices since 1991, after U.S. officials blamed Iran and President Donald Trump said Washington was “locked and loaded” to retaliate.
Oil prices climbed to four-month highs on Monday and world stocks slid after weekend attacks on crude facilities in Saudi Arabia shut about 5% of the world’s supply and fueled worries over the impact of an oil shock on economic growth.
Shares in Airbus and other key French exporters fell on Monday as Europe and the United States edged closer toward tit-for-tat sanctions in a long-running dispute over aircraft subsidies.
South Korea’s LG Display Co Ltd on Monday said it has named LG Chem President Jeong Ho-young as its new chief executive officer.
German lighting group Osram advised its shareholders on Monday to accept a 4.3 billion euro ($4.8 billion) takeover bid from AMS and sell their shares to the Austrian sensor specialist, saying the offer was economically attractive.
Governments worldwide may need to follow U.S. President Donald Trump’s move to tap emergency oil stockpiles if top exporter Saudi Arabia is unable to quickly repair the damage inflicted by attacks on its energy industry on Saturday.
Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut over 5% of global supply.
Oil surged to four-month highs on Monday after weekend attacks on crude facilities in Saudi Arabia sparked supply fears, while shares in Asia extended losses as bleak economic data from China sapped investors’ appetite for riskier assets.
Oil prices soared on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut about 5% of global supply.
The United Auto Workers (UAW) went on strike at General Motors just after midnight Sunday and about 48,000 hourly workers at its facilities are headed for the picket lines in the morning, union officials said early Monday.
Oil surged to four-month highs on Monday after weekend attacks on crude facilities in Saudi Arabia sparked supply fears, while shares in Asia extended losses as bleak economic data from China sapped investors’ risk appetite.
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