Oil price gap surge higher after the shock weekend OPEC+ news (swingeing output cut)

ICYMI, the huge news:

• Saudi Arabia and other gulf states announce 1 million barrels per day in oil output cuts

OIL price up circa 7% on the news at the futures opening.

If you are new to markets you'll see these sorts of moves telegraphed in early forex trade on Monday's in New Zealand and Australia:

• Yen down, CAD up after the shock OPEC news over the weekend (shock swingeing output cut)

OIL:

(This chart is from our charting app, which is free and can be found at this link)