What's moving markets today: Live updates - CNN

Brent crude futures, the global benchmark, jumped about 1.6%, while US oil futures rose 1.2%.

The moves come after Saudi Arabia said two of its tankers were sabotaged near a key shipping lane off the coast of the United Arab Emirates.

A report from the state press agency Monday said there had been "significant damage to the structures of the two vessels," but didn't mention casualties or oil spills.

Saudi Arabian Energy Minister Khalid al-Falih described the attack as an attempt to "undermine the freedom of maritime navigation, and the security of oil supplies to consumers all over the world."

Supply fears have already helped drive prices 33% higher this year amid the Trump administration's crackdowns on two big producers: Venezuela and Iran.

Oil stocks were getting a lift, too. Shell (RDSA) climbed almost 1.2% in early trading, while BP (BP) inched 0.8% higher.

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https://www.cnn.com/business/live-news/stock-market-news-today-051319/index.html

2019-05-13 12:38:00Z
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