President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Gold settled about 2 percent lower at a one-month low on Monday as lingering fears that U.S. interest rates could rise in early 2015 prompted bullion investors to cash in gains made during the metal's recent rally to six-month highs.
Other precious metals also broadly fell, with palladium retreating from an earlier 2-1/2 year peak on supply worries due to a combination of a strike in South Africa, simmering tensions over Ukraine and the launch of two palladium-backed exchange-traded funds in Johannesburg.
Analysts said that institutional investors turned bearish on gold after last week Fed Chair Janet Yellen said the central bank will probably end its massive bond-buying program this fall, and could start raising interest rates around six months later.
"It's an extension of people digesting Yellen's comment about the interest rate," said Phillip Streible, senior commodities broker at RJ O'Brien. The lower U.S. stock market also triggered profit-taking across the board.
for April delivery settled 1.9 percent lower at $1,311.20 an ounce. Spot gold fell to its lowest since Feb. 20 at $1,308.50 an ounce in earlier trade and was down 1.8 percent at $1,310 an ounce.
The metal fell 3.5 percent last week, dropping sharply after Federal Reserve Chair Janet Yellen surprised world markets on Wednesday by signalling that U.S. interest rates could rise sooner than had been expected previously.
"Gold started dropping once the Fed came out with the rate news,'' Natixis analyst Bernard Dahdah said. ``We saw increasing strength in the dollar, and 10-year U.S. yields increased quite sharply.''
"With higher yields you get a higher opportunity cost of holding gold, and with the stronger U.S. dollar there is less of a fear of currency debasement,'' he said. "We could see gold dropping below $1,300 in the next month if we get the necessary U.S. data, a strengthening dollar and higher yields.''
The dollar index was down 0.2 percent on Monday, holding near last week's three-week high, as traders increased bets on a possible U.S. interest rate hike early next year.
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