Oil prices retreated on Monday after hitting their highest since May at the open, on fears over supply disruptions following an attack on Saudi Arabia’s oil facilities on Saturday that cut more than 5% of global oil supply.
Dream Global Real Estate Investment Trust said on Sunday it is to be bought by funds managed by Blackstone Group Inc in a C$6.2 billion ($4.69 billion) deal.
U.S. motorists most likely to feel the hit from rising gas prices following the attacks on Saudi Arabia’s oil facilities are on the West Coast, which accounts for nearly half of all of U.S. crude imports from the kingdom.
Oil prices surged to six-month highs on Monday while Wall Street futures turned lower and safe haven bets returned after weekend attacks on Saudi Arabia’s crude facilities knocked out more than 5% of global oil supply.
U.S. President Donald Trump said Sunday that General Motors Co and the United Auto Workers union should “get together and make a deal.” Trump tweeted about five hours before the union is set launch its first nationwide strike at GM in 12 years.
The strike on the heartland of Saudi Arabia’s oil industry, including damage to the world’s biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months.
Oil prices surged more than 15% to their highest level in nearly four months at the open on Sunday after an attack on Saudi Arabia’s oil facilities on Saturday that knocked out more than 5% of global oil supply.
Oil prices surged more than 15% at the open on Sunday after an attack on Saudi Arabia’s oil facilities on Saturday that knocked out more than 5% of global oil supply.
U.S. stock futures fell 0.59% percent when trading resumed on Sunday, a day after attacks on Saudi oil facilities that risk disrupting global energy supplies.
U.S. shale producers have added millions of barrels to global crude supply in recent years, but that does not mean they can quickly replace barrels lost from weekend attacks on Saudi Aramco facilities, energy experts said on Sunday.
Attacks on Saudi oil plants have boosted concerns about supply security in the Middle East and should raise the risk premium in the global crude market, shifting focus from a gloomy economic backdrop, S&P Global Platts said on Sunday.
Saudi Arabia’s oil exports will continue as normal this week as the kingdom taps into stocks from its large storage facilities, an industry source briefed on the developments told Reuters on Sunday.
Axel Springer is planning layoffs as part of a cost-cutting program that would mainly affect its newspapers, the German media group’s chief executive told the Sueddeutsche Zeitung in an interview released on Sunday.
The United Auto Workers (UAW) said on Sunday that its roughly 48,000 hourly workers at General Motors Co facilities would go on strike as of midnight Sunday after U.S. labor contract talks reached an impasse, the first nationwide strike at GM in 12 years.
Germany’s motor vehicle authority (KBA) has told Volkswagen’s premium brand Audi that it faces penalties for its failure to remove illegal software from diesel cars that can manipulate emissions levels, the Bild am Sonntag (BamS) newspaper reported.
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