1. Coffee deal: Nestle (NSRGF) agreed Monday to pay $ 7.2 billion to sell and distribute Starbucks’ packaged products around the world.

Nestle already has a significant presence in the coffee business with well-known brands like Nescafe and Nespresso. It’s now adding Starbucks (SBUX) coffee and tea products to the list.

The agreement only covers Starbucks’ packaged goods sold outside the US company’s stores. It doesn’t include Starbucks’ ready-to-drink coffee, tea or juices.

2. Oil surge: US crude oil futures jumped almost 1% to top $ 70 per barrel for the first time since 2014.

Investors are worried that President Donald Trump will abandon the 2015 Iran nuclear deal, which allowed the country to export more crude.

The return of sanctions could disrupt global oil supplies.

“It’s difficult to estimate the impact on Iranian oil exports. However, prices may remain elevated and even reach $ 80 in the short run,” said Hussein Sayed, chief market strategist at FXTM.

US oil prices have gained more than 16% since the start of the year. Brent oil, the global benchmark, is up around 13%.

3. Air France crisis: Shares in Air France-KLM (AFLYY) dropped over 13% after the carrier’s CEO quit in a dispute over worker pay.

Jean-Marc Janaillac said on Friday he would resign after failing to reach a deal with employees who have been striking for two weeks.

The airline said it expects to operate only 85% of its flights on Monday and Tuesday because of ongoing strikes.

French economy minister Bruno Le Maire told French TV station BFMTV on Sunday that the airline could “disappear” if the crisis isn’t resolved.

The French government owns 14.3% of the airline. Delta (DAL) and China Eastern each own 8.8% stakes.

4. Global market overview: US stock futures were higher.

European markets were mixed, with exchanges in the United Kingdom and Ireland closed for a holiday.

Stocks in Asia ended the session with gains.

The Dow Jones industrial average shot up 1.4% on Friday, while the S&P 500 added 1.3% and the Nasdaq gained 1.7%.

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5. Earnings and economics: Gannett (GCI), Scripps (SSP), and Tyson Foods (TSN) will release earnings before the open. AMC Entertainment (AMC) and Zillow (ZG) will follow after the close.

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6. Coming this week:
Monday — AMC (AMC) earnings
Tuesday — Disney, Sturm Ruger (RGR) earnings; JOLTS
Wednesday — 21st Century Fox earnings; PPI
Thursday — CPI
Friday — University of Michigan’s Consumer Sentiment survey