Oil turned to be the focus point for investors over the weekend and this morning after the attack on Saudi Arabia refining facilities Saturday. The disruption on world largest oil producer sent prices soaring higher over the weekend, while the dollar traded lower and safe heavens sharply higher. Oil prices are trading this morning at $59.6 per barrel, that’s after a 15% jump over the weekend on light trading and ahead of the US open later on today. On Friday, a news report took the sterling sharply higher pointing to a possible Brexit deal between the UK and EU as early as October 31. The sterling traded higher more than 1% on the news, closing at 2-month highs Friday. Global equity markets lost ground over the weekend on the surprise jump in Oil prices, Nasdaq futures are trading this morning nearly 1% lower while Asian markets are trading a mixed session. Gold prices jumped 1% over the weekend on a move to safety following the attacks on Saudi Arabia and are trading above the $1,505 level, that’s after a weak close Friday, at $1,488 per ounce.
There is no important news on the agenda Monday. (all times GMT).
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OIL gapes 15% over the weekend on Saudi refining facilities attack.
Nasdaq futures long idea following gap down over the weekend.
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