Putin, MBS Surprise Biden With Oil Cuts Till Dec; Russia & Saudi's Move Shocks Global Markets

Russia and Saudi Arabia extended oil cuts till December, sending global markets and the U.S. in a shock. For the first time this year, brent crude jumped above $90/barrel as a result of the announcements by Saudi Arabia and Russia. Both the countries said they would review the supply cuts monthly, and could modify them depending on market conditions. Watch for more details.