Global oil prices surged nearly 2% on Tuesday, 24 September, reaching a three-week high after China unveiled a major monetary stimulus. As the world’s largest crude importer, China’s actions fueled optimism in global markets.
The eurozone's economic outlook worsened unexpectedly this month, as business activity contracted significantly. The services sector stagnated, and the downturn in manufacturing deepened, casting doubt on the region's near-term recovery.