The Saudi strikes lead to an oil shock for the global economy. Crude prices trim gains after Brent has its best day on record following the attacks on Saudi Aramco's facilities. President Trump says Iran looks to be the likely culprit but plays down the prospect of armed conflict, saying he is in no rush to respond. He also hinted that the move in energy assets is reason enough for the Federal Reserve to cut rates. The geopolitical risk weighs on Asian stocks, but there is a ray of hope for U.S.-China trade talks as Washington and Beijing confirm that deputy-level negotiations are set to resume later this week. In Europe, however, Brexit talks remain in deadlock following U.K. Prime Minister’s visit to Luxembourg while the Supreme Court in London is set to hear whether his proroguing of parliament is indeed lawful.

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