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Stocks point lower as oil surges on Saudi facility attack


Added 09-16-19 03:04:06am EST - “The jump in crude prices hurt airline stocks and other businesses with big fuel bills and put upward pressure on inflation expectations.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Stocks point lower as oil surges on Saudi facility attack”. Below is an excerpt from the article.

Former Commerce Department Deputy Director Chris Garcia believes proposing an interim trade deal with China is not worth it.

U.S. stock futures are indicating a lower start to the week on Wall Street after crude prices surged following an attack on Saudi Arabia's biggest oil processing facility.

Dow Industrial futures are down 0.4 percent or just over 100 points. Dow futures were down as much as 204 points at 8:30pm ET on Sunday night.

The benchmark U.S. crude price jumped more than $5 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 $6 after spiking nearly $8 at one point.

Smoke fills the sky at the Abqaiq oil processing facility on Saturday, Sept. 14, 2019 in Saudi Arabia. Drones claimed by Yemen's Houthi rebels attacked the world's largest oil processing facility in Saudi Arabia and a major oilfield operated by Saudi

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