Global oil markets faced renewed uncertainty on Monday after deadly attacks on Saudi Arabia's main international airport, fresh tanker incidents near the Strait of Hormuz and overnight airstrikes in Yemen intensified concerns about Middle Eastern energy supplies. However, crude prices fluctuated as investors weighed the regional security risks against a separate US-Russia diesel supply agreement and President Donald Trump's announcement of a proposed Russia-Ukraine energy ceasefire. Deadly Attacks Raise Middle East Tensions Saudi Arabia's King Khalid International Airport in Riyadh suffered repeated attacks over the weekend, with a combined reported toll of 14 deaths and more than 320 injuries. Yemen's Iran-backed Houthi movement claimed responsibility for the attacks. The airport disruption also raised concerns about aviation safety and the possibility of further regional escalation. Separately, overnight airstrikes struck areas of Yemen's capital, Sanaa. Houthi-ru...
Hiring in the world's largest economy nearly ground to a halt in September, and Wall Street's response was relief rather than alarm. The Bureau of Labor Statistics reported on Friday that employers added just 29,000 jobs, far below forecasts, while the unemployment rate rose to 4.2%. For investors who have spent weeks worrying about inflation and rate hikes, a softer labor market was, at least for one morning, welcome news. What the Report Showed Economists surveyed by Dow Jones had expected about 84,000 new jobs, a Reuters poll looked for 90,000, and Bloomberg said the figure missed every estimate in its survey. The unemployment rate edged up from 4.1% to 4.2%. The details were no kinder. Revisions removed 60,000 jobs from the previous two months: August was cut to 133,000 from 162,000, and July now shows a loss of 10,000. Wage growth cooled too, with average hourly earnings up 0.1% on the month against 0.3% expected, according to Benzinga. Trading Economics' breakdown...