Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
European stocks ended Wednesday's session in negative territory after the U.S. yield curve inversion deepened to levels not seen since 2007, reigniting fears of an impending recession.
The pan-European Stoxx 600 was 0.1% lower at the closing bell, insurance stocks shedding 1.2% while the oil and gas sector posted gains on the back of higher oil prices.
The inversion of the spread between the 10-year and 2-year U.S. Treasury yield continued to worsen on Wednesday after falling to its lowest level since before the financial crisis on Tuesday, with inversions of the yield curve consistently preceding periods of recession. The rate on the benchmark 30-year Treasury bond also hit a new all-time low.
Sterling fell around 0.4% against the dollar on Wednesday after the queen approved British Prime Minister Boris Johnson's plan to suspend parliament. A statement from the Privy Council, a body of advisers to the queen, confirmed that parliament would be suspended on a day between September 9 and September 12, with the suspension lasting until October 14.
The highly-controversial move will restrict parliamentary time before the Brexit deadline and increase the chances of the U.K. leaving the EU with no deal. The fall in sterling boosted the FTSE 100, which was the only major bourse to end the session above the flatline.
Stateside, stocks traded higher on Wednesday, lifted by the energy sector which received a boost from the uplift in oil prices.
Back in Europe, German consumer sentiment data published Wednesday showed that consumer morale remained unexpectedly stable heading into September, despite the country's deteriorating economic growth outlook.
Investor focus was also attuned to domestic politics in Italy as the Five Star Movement (M5S) and Democratic Party (PD) on Tuesday made progress toward a coalition deal.
Danish brewery Royal Unibrew jumped 10.8% to top the Stoxx 600, after posting higher-than-expected second-quarter profits and revising up its full-year guidance.
At the other end of the European blue chip index, Danish jeweler Pandora fell 6.9%, while London-listed John Wood Group shed 6.5%.
U.K.-listed airlines slid as no-deal Brexit fears intensified, led by easyJet, which dropped 2.7% by the closing bell.
Ailing British tourism group Thomas Cook saw its shares tumble 16.5% after agreeing a rescue package with China's Fosun.