Canadian Prime Minister Mark Carney is heading to Europe in the middle of a trade war with U.S. President Donald Trump, seeking a deeper relationship with the European Union that could give Canadians greater freedom to work and study there.

Canada will seek an arrangement that would allow Canadians to live and work in Europe without visas as part of a strategic partnership, according to a senior Canadian official familiar with the discussions.

Saudi Arabia's closure of a major oil pipeline after a recent attack is raising fears that global energy markets in crisis because of the war with Iran could face even starker shortages, pushing prices higher for fuel and other essentials.

The largest oil producer in the Middle East closed its East-West pipeline on Friday after the attack, which it blamed on drones from Iranian-backed militias in Iraq. Two regional officials told The Associated Press that repairs could take three to five weeks.

U.S. President Donald Trump wants factories and investment moving south to the United States. Canadian Prime Minister Mark Carney is betting he can make billions flow north.

About 300 CEOs and senior executives from some of the world's biggest investment firms will descend on the Four Seasons in Yorkville, a tony Toronto enclave of high-end restaurants and designer boutiques, for Carney's Canada Investment Summit this week.

European leaders were meeting Monday to discuss growing competition in the Arctic, where global warming is opening new shipping routes, governments are vying for vast natural resources and a Russian military buildup is heightening security concerns.

German Chancellor Friedrich Merz and Danish Prime Minister Mette Frederiksen were among leaders expected for the European Arctic Summit in Rovaniemi, Finland, a city perhaps best known for its Santa Claus village.

U.S. President Donald Trump has called on Ukrainian President Volodymyr Zelensky to halt strikes on Russian oil refineries and other infrastructure used to produce and distribute diesel, saying the attacks are causing a global shortage. He spoke after diesel prices in the U.S. hit a record on Friday, soaring past $6 a gallon on average.

Ukraine has for months been targeting Russia's oil and gas industry with long-range strikes, prompting fuel rationing across the country and causing Moscow to ban diesel exports in July, removing supplies from the already tight global market.

Russia announced Friday that it was rolling out its long-delayed 5G mobile network, but that iPhone users would be unable to connect until Apple coordinated the move with Moscow.

Leaders of the BRICS nations will meet in New Delhi this weekend as wars in Ukraine and the Middle East and U.S.-China tensions test the group's ability to act together.

Host India will seek to balance its ties with China and Russia against its growing partnerships with the United States and other Western powers.

The European Central Bank raised interest rates Thursday to cool inflation that is being fed by high oil prices from the Iran war. The decision was supported by a stronger-than-expected economy that suggests businesses can weather the higher borrowing costs.

The central bank for the 21 EU member countries that use the euro currency raised its benchmark rate by a quarter percentage point to 2.50% at a meeting held in Berlin, away from the bank's Frankfurt headquarters.

The leader of the United Arab Emirates began a state visit to Germany on Thursday, during which deals worth billions of euros will be signed in sectors including energy and technology, Emirati diplomats said.

Berlin rolled out the red carpet for Sheikh Mohamed bin Zayed Al Nahyan, who was received with military honors by President Frank-Walter Steinmeier and was later to meet Chancellor Friedrich Merz.

Shares in Europe and Asia were mostly lower Thursday following a retreat on Wall Street as the price of crude oil again traded above $100 a barrel.

The future for the S&P 500 rose 0.2% and that for the Dow Jones Industrial Average was up 0.4%.