Attacks on two sites at the heart of Saudi Arabia’s oil industry shut down more than 5% of global supply, sent oil prices as much as 20% higher and prompted the United States to blame Iran despite Tehran’s denials.
Japanese Foreign Minister Toshimitsu Motegi said on Monday that he agreed with U.S. Secretary of State Mike Pompeo that the global economy would be affected if the attacks on Saudi oil facilities destabilize the situation in the Middle East.
The United States is considering increasing its intelligence sharing with Saudi Arabia after Saturday’s attack on Saudi oil facilities that halved the kingdom’s production and jolted world oil markets, U.S. officials told Reuters.
Oil prices surged nearly 20% at one point on Monday, with Brent crude posting its biggest intraday gain since the 1990-1991 Gulf crisis, after an attack on Saudi Arabian oil facilities at the weekend halved the kingdom’s production.
Wall Street was set to open lower on Monday as the weekend attack on Saudi Arabian oil facilities knocked out 5% of the world’s supply, sparking concerns over global economic growth and heightening tensions in the Middle East.
Shares in Atlantia fell sharply on Monday ahead of a board meeting of its top investor Edizione, which a source said was expected to discuss allegations of falsified safety reports at the group’s road operations.
Oil prices hit four-month highs on Monday after attacks on crude facilities in Saudi Arabia fueled worries over the impact of an oil shock on economic growth, halting a positive run in world stocks and bolstering demand for safe-haven assets.
U.S. President Donald Trump said on Monday the United States would help its allies despite U.S. energy independence, after Washington blamed Iran for an attack on Saudi Arabia that has closed 5% of global crude output.
U.S. stock index futures slipped on Monday after the weekend attack on Saudi Arabian oil facilities knocked out 5% of the world’s supply, sparking concerns over global economic growth and heightening tensions in the Middle East.
U.S. Secretary of State Mike Pompeo told Iraqi Prime Minister Adel Abdul Mahdi that the United States has information confirming Baghdad’s denial that Iraqi territory was used to launch an attack on Saudi oil facilities, Iraq said on Monday.
Apple will launch a legal challenge on Tuesday to a European Commission order to pay 13 billion euros ($14.4 billion) in Irish back taxes in a landmark case in the EU’s crackdown on tax avoidance by multinational companies.