The U.K. sought to lower tensions after Iran seized a British oil tanker in the Strait of Hormuz on Friday, an incident that increased frictions in one of the world’s critical energy chokepoints.
Libyan oil production dropped to about 1 million barrels a day, its lowest in about five months, after an unidentified group reportedly closed a valve and shut down the North African country’s largest field.
After a scorching weekend across the U.S. east coast, it’s Europe’s turn to dial up the air conditioners and fans next week.
Japanese Prime Minister Shinzo Abe’s ruling coalition is set to retain its upper house majority in Sunday’s election, a media projection showed, keeping him on course to become the country’s longest-serving premier.
Stable credit conditions and low funding costs could result in borrowers offering debt, but primary market players may hold fire as they weigh more quarterly earnings and the latest indications from Fed speakers regarding the size of the expected rate cut later this month.
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