Squawk Box Europe Express

“Like a phoenix from the ashes” - Saudi energy minister Abdulaziz bin Salman seeks to calm oil markets, saying the kingdom's supply will be fully back online by the end of the month. We are live in Jeddah as crude oil extends its losses on the back of the Saudi government's assurances following the Aramco attacks. U.S. stocks rise ahead of a widely anticipated 25 basis-point cut in interest rates from the FOMC. A CNBC survey shows that more than 90 per cent of market participants expect further easing in December. But hopes of a trade deal between Washington and Beijing have been dealt a blow after President Trump suggested it may have to wait until after next year’s U.S. election. CNBC hears exclusively from House Speaker Nancy Pelosi who says a multi-lateral approach with Beijing would have been preferable. And we report from Israel, where there is no clear winner in the nation’s second election in five months.