It has been a good morning, and welcomes our rolling attention of the economy, the world, the financial markets, the eurozone and business.
The oil price is raining this morning after Saudi Arabia announced that it would break oil production next month, by half a million barrels a day.
That is taken as a sign that an oil cartel Opec could publish a co-ordinated cut in its December meeting, in an attempt to raise prices.
Saudi Minister of Energy Saudi Khalid Al-Falih told reporters on Sunday in Abu Dhabi:
"We as responsible producers are going to work, and work hard, to balance the market within a reasonable corridor,"
Al-Falih argued that the demand for Saudi oil "disappeared" due to seasonal factors, which means that the largest oil producer in the world should get smaller.
Al-Falih spoke at a joint meeting of Opec and non-Opec oil ministers, and the markets have been quick to take the suggestion:
Brent's crack has jumped almost 2% this morning to $ 71.55 per barrel, while New York cradle is 1.3% higher at $ 61 / barrel.
That's after weeks of steady decline – Brent's crude was trading over $ 86 per barrel in early October, before the fears of slowing down global growth.
Higher oil prices will help Saudi balance their budgets, at a time when Riyadh continues under heavy diplomatic pressure following the Jamal Khashoggi murder.
But it will be a blow to global consumers, buying petrol prices on the front court and transport costs in general.
Stephen Innes of an OANDA trading company says that oil is "the most hot topic" in today's markets.
Recent price slides have far reaching implications across all asset classes
He believes that next month's Opec meeting will be essential:
OPEC customers do not welcome oil prices above $ 80, and that seems to be a similar consensus among OPEC + and US producers.
However, producers are concerned that the latest sales frenzy could see Brent oil reaching $ 60 or below. Therefore, OPEC best suites the current supply glut …
But where oil prices are next headed, ultimately depends on the producers.
Also ends today
The pound will be under pressure, as Theresa May continues to fight to reach the Brexit agreement. Time – never a product
Italy will also focus, with the output of a new factory output out this morning. Rome is still under pressure from Brussels to reform its 2019 budget, and it will definitely not be.
European stock markets are expected to raise at least 0.5% open.
- 9am GMT: Italian industrial production for September