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Stocks lower

European stocks closed lower yesterday as investors digested an escalation of tensions in the Middle East following an attack on Saudi oil production.

The pan-European Stoxx 600 closed provisionally about 0,4 percent lower. Household goods fell over 1 percent to lead losses while oil and gas stocks surged 3 percent as crude prices soared following the oil attack in Saudi Arabia.

Oil prices surged overnight after drone attacks at the weekend hit major oil production facilities in Saudi Arabia, effectively wiping out 5 percent of global supply.

Source :

The Herald

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