European stocks suffer from Saudi attacks, but oil firms soar

European shares fell on Monday after four straight sessions of gains as attacks ...

“Usually, higher oil prices are a product of higher demand, but in a scenario like this where supply is squeezed because of an attack, that is the worst of both worlds,” said David Madden, market analyst at CMC Markets.

Adding to some weak indicators from China last week, industrial production in the world’s second largest economy grew at its weakest pace in 17-1/2 years in August amid rising U.S. trade pressure and softening domestic demand.European stocks ended Friday with their fourth straight weekly gain, as investors circled back into cyclical sectors amid signs of progress in U.S.-China trade talks.

Market participants are now looking to the U.S. Federal Reserve’s policy meeting starting Wednesday, where the central bank is widely expected to ease interest rates and signal further moves.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saudi Officials Say Oil Production to Return to Normal Levels by MondaySaudi Arabia said it would return to normal levels of oil production by Monday, as officials sought to reassure world markets after a drone attack Saturday prompted the kingdom to cut its crude production in half.
Read more »

Saudi Arabia Aims to Restore a Third of Lost Oil Output MondaySaudi Arabia’s national oil company expects to restore roughly a third of crude output disrupted due to a weekend attack by day’s end on Monday, Saudi officials said, a step back from earlier hopes that it could quickly resume full production by the start of the week.
Read more »

Saudi stock market dives, crude futures to jump after drone attack on oil plantsSaturday's attack is the biggest on oil infrastructure anywhere since Saddam Hussein's invasion of Kuwait in 1990.
Read more »

Crude prices soar, U.S. stock futures slip after attacks on Saudi oil facilitiesCrude oil prices surged more than 10% late Sunday and U.S. stock futures retreated following weekend attacks against Saudi Arabian oil facilities.
Read more »

U.S. stock futures fall after Saudi oil attacksU.S. stock futures fell 0.59% percent when trading resumed on Sunday, a day afte...
Read more »