Mixed day for global stocks as Saudi announcement lifts oil prices


Market sentiment remains largely buoyant on Monday after the United States clinched a breakthrough deal late last week to suspend its debt limit temporarily and avert a disastrous default. – EPA pic, June 6, 2023.

OIL prices advanced yesterday after key producer Saudi Arabia slashed output by a million barrels in a bid to prop up prices, while Wall Street stocks retreated from multi-month peaks.

After an initial surge on the Saudi announcement, crude prices moderated somewhat as the day progressed.


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