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Global stocks mostly lower after oil prices surge

WorldNews Monday, 16 September 2019
Global stocks mostly lower after oil prices surgeBEIJING — Global stock markets sank Monday after crude prices surged following an attack on Saudi Arabia's biggest oil processing facility. Market benchmarks in London and Frankfurt opened lower while Jakarta's benchmark lost 1.8%. Shanghai was unchanged, and Japanese markets were closed for a holiday. Benchmark U.S. crude jumped $4.75 per barrel following the attack on oil producer Saudi Aramco's Abqaiq facility for which Yemeni rebels claimed responsibility. Brent crude, the international standard, was up $5.54 after spiking nearly $8 at one point. That hurt airline stocks and other businesses with big fuel bills and put upward pressure on inflation expectations. At the...
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Credit: CBS 2 New York - Published < > Embed
News video: Oil Prices Surge After Saudi Arabian Oil Refinery Attacked

Oil Prices Surge After Saudi Arabian Oil Refinery Attacked 00:36

President Donald Trump is blaming an attack on an oil refinery on Iran as global markets jump following the explosive attack. CBS2's Mary Calvi reports.

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