Mubasher: European stock markets declined on Monday in response to the attack on Saudi Arabia’s oil installations, which disrupted half of the nation’s output, MarketWatch reported.

The pan-European benchmark STOXX 600 fell by 0.63% to 389.31.

Oil giants like BP and Royal Dutch Shell surged, as well as explorers such as Aker BP.

However, airlines, including Air France, which are sensitive to jet costs, dropped, while cruise operator Carnival dipped.

Bank shares also tumbled, following a recent rally, including drops of 3.57% and 3.13% for Deutsche Bank and Commerzbank.

The German DAX index fell by 0.65% to 12387.81, the French CAC 40 by 0.78% to 5611.15 and the UK FTSE 100 by 0.36% to 7341.03.

The attack on Saudi Arabia’s crude processing facilities at Abqaiq and Khurais has slashed output by 5.7 million barrels per day (bpd).

Earlier on Monday, global benchmark Brent crude futures climbed as much as 19.5% to $71.95 per barrel (pb), marking the biggest intraday percentage leap since the 1991 Gulf War.