Monday Morning Briefing: Oil prices jump nearly 20% after Saudi attack

Highlights

Oil surges after attack on Saudi oil facilities An attack on Saudi Arabia that shut 5% of global crude output caused the biggest jump in oil prices since 1991, after U.S. officials blamed Iran and President Donald Trump said Washington was “locked and loaded” to retaliate.

OxyContin maker files for bankruptcy protection OxyContin maker Purdue Pharma filed for bankruptcy protection, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly opioid epidemic.

Trump rebuffs Kavanaugh impeachment calls President Donald Trump rejected Democrats’ calls for impeaching Supreme Court Justice Brett Kavanaugh after a new report involving sexual misconduct allegations emerges.

Australia concluded China was behind hack on parliament Australian intelligence determined China was responsible for a cyber-attack on its national parliament and three largest political parties before the general election in May, five people with direct knowledge of the matter told Reuters.

World

Johnson to explore Brexit deal with Juncker British Prime Minister Boris Johnson will explore his chances of securing a Brexit deal over lunch with European Commission chief Jean-Claude Juncker after weekend rhetoric from both suggested their positions remain far apart.

Hong Kong reopens after violent weekend protests Hong Kong’s businesses and underground rail stations re-opened after a chaotic Sunday that saw police fire water cannon, tear gas and rubber bullets at protesters who blocked roads and threw petrol bombs outside government headquarters.

Kim invited Trump to Pyongyang in letter North Korean leader Kim Jong Un invited President Donald Trump to visit Pyongyang in a letter sent in August amid stalled denuclearization talks, a South Korean newspaper reported.

Business

New York to ban flavored e-cigarettes

New York Governor Andrew Cuomo announced a ban on all flavored e-cigarettes besides tobacco and menthol in response to a recent nationwide spate of sometimes deadly lung illnesses that health officials have linked to vaping.

5 min read

China's slowdown deepens

The slowdown in China’s economy deepened in August, with growth in industrial production at its weakest 17-1/2 years amid spreading pain from a trade war with the United States and softening domestic demand.

4 Min Read

Auto workers strike against GM

The United Auto Workers went on strike at General Motors just after midnight Sunday. About 48,000 hourly workers at its facilities are headed for the picket lines after contract talks reached an impasse. It was the first nationwide strike at GM in 12 years.

2 min read

Top Stories on Reuters TV

Top Democrats press Trump on gun control

U.S. 'locked and loaded' after Saudi attack