News Highlights: Top Global Markets News of the Day

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Oil Prices Climb on Pipeline Shutdown

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Global oil prices jumped to their highest level since 2015 as the shutdown of a key European pipeline sapped more crude from a market where supply has already tightened due to production cuts.

As the Fed Deliberates, Amazon Is Making Its Job More Difficult

Web-driven comparison shoppers are keeping a lid on inflation and weakening retailers' pricing power, complicating the Federal Reserve's deliberations on how much and how fast to raise interest rates.

EU Prepares to Discuss a Long-Delayed Trade Deal With Britain

Following a Brexit divorce accord, European leaders may finally authorize negotiations at a summit this week on the outlines of a future trade deal with Britain.

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Global Stocks Buoyed by Gains in Energy, Tech

Energy stocks helped buoy European indexes Tuesday as the price of oil hit a 2 1/2 -year high, promising gains for this sector in the U.S.

Pakistan Currency Slides in Effective Devaluation

Pakistan's rupee slumped to a near four-year low against the U.S. dollar, the latest move downward in an effective devaluation of the currency that had been kept steady against the greenback for much of the past two years.

Economists Give High Marks to Janet Yellen

Federal Reserve Chairwoman Janet Yellen is getting a positive report card from outside economists as she prepares to leave office after four years leading the U.S. central bank.

Small-Business Optimism Index Rises to Near Record

Optimism among U.S. small-business owners rose in November, reaching the highest level in more than three decades, according to a report released Tuesday. Business owners said they expect business conditions to improve in the next six months.

Unemployment Back to Precrisis Level in Rich Countries

The rate of unemployment across the world's developed economies finally returned to its pre-crisis level in October, according to the Organization for Economic Cooperation and Development.

Saudi Aramco Ramps Up Spending to Over $40 Billion a Year

Saudi Arabian Oil Co. unveiled a plan to invest more than $40 billion a year in projects over the next decade, a significant expansion for the world's largest energy company ahead of its expected public listing.

(END) Dow Jones Newswires

December 12, 2017 09:15 ET (14:15 GMT)