Devin

A possible extension next month of a deal allowing the safe wartime export of grains and fertilizers from three Ukrainian Black Sea ports could hinge on the reopening of a pipeline that delivers Russian ammonia to one of those Ukrainian ports.

Eurozone consumer inflation expectations will be the main data point to look out for today. Markets have become numb to central banks' hawkish comments.

The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.

European markets got off to a negative start to the week as the effects of the Friday U.S. employment report rebound were tempered by a disappointing ISM services report which painted a contrastingly different picture of the U.S. economy.

Having been surprised by Saudi Arabia announcing a unilateral 1 million barrels per day cut in oil output for July, oil refiners got more bad news when Saudi Aramco informed Asian customers that prices for July-loading cargoes were going up.

While U.S. markets finished the week on a high, after another bumper jobs report and a positive week across the board, markets in Europe, while finishing the week on a high, struggled to match the exuberance of investors on the other side of the Atlantic.

It's reasonable to expect a fall in nominal house prices of at least 10%. That's a chunky fall – and a welcome one.

Saudi Arabia's decision to deepen its crude oil production cuts, without matching contributions from its allies, underscores how the market is being skewed by a series of contradictory influences.

The British public has grown disappointed with Brexit's consequences. Given the disingenuous national debate leading up to it, the fiasco is not a big surprise.

Europe's largest economy is also one of the region's most aggressive advocates for shifting energy systems away from fossil fuels, and leads the continent in emissions reduction targets and investments in renewable energy supplies.