EU says need to determine Saudi attack facts before establishing blame
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 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).
Saudi Aramco has changed the type of crude loading onto a tanker due to go to Asia to Arab Heavy from Arab Light, a source familiar with the matter said.
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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.
As investors worry about oil supply, airline and cruise ship stocks are getting hit on Monday, while some energy stocks are shooting upward.
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.
Oil prices surged nearly 20% at one point on Monday, with Brent crude posting its biggest intraday gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities at the weekend halved the kingdom's production.
British Prime Minister Boris Johnson stands in support of his Saudi Arabian allies following an attack on its oil facilities which marked a "wanton violation of international law", his spokesman said.
Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.
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.