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.
Oil surged to four-month highs on Monday after weekend attacks on crude facilities at key producer Saudi Arabia sparked supply fears, while shares in Asia extended losses as bleak economic data from China sapped investor risk appetite.
Volkswagen said on Monday it had agreed to pay up to A$127 million ($87.3 million) to settle lawsuits brought on behalf of thousands of Australian customers caught up in its global diesel emissions cheating scandal.
Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the start of the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut in the equivalent of 5% of global supply.
OxyContin maker Purdue Pharma LP filed for bankruptcy protection in New York Sunday night, succumbing to pressure from more than 2,000 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic.
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