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Oil Jumps on Qatar; Stocks Mixed

by Jonathan Adams

Oil jumped after a Saudi-led alliance cut ties with Qatar, while Asian stocks were mixed as investors weighed the prospects for global growth. The pound slipped after a terror attack in London.

Crude climbed as the action against Qatar escalated a crisis that started over its relationship with Iran. U.S. and Australian bond yields were near the lowest in seven months as Friday’s data on wage growth and hiring in the American labour market came in below forecasts. The yen weakened after Friday’s gain. The peso reversed losses on signs the ruling PRI was ahead in the governor’s election for the key state of Mexico.

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