Iran's Revolutionary Guard said the British tanker, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
J.C. Penney on Friday afternoon issued a statement responding to a report that the embattled department store chain had hired advisers to explore debt restructuring options,...Retailread more
Earlier this week, a lawyer said Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, had "improper sexual contact" with at least one woman under the...Politicsread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
Brent crude oil price surged $3 in Asian trading on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, although Asian importers said they were not immediately worried about supply disruptions.
The strike against Houthi rebels who have driven the president from the country's capital could stoke concerns about the security of oil shipments from the Middle East.
Brent crude oil futures rose to $59.71 a barrel. U.S. crude was up $2 at $52.24 a barrel.
Despite the price rise, importers of Middle East oil were not immediately concerned about disruptions.
"Yemen is not a big supplier of oil... This could help move oil prices partly, but we don't see this will disrupt actual oil supply," said Kim Woo-kyung, a spokeswoman at SK Innovation, a parent company of South Korea's largest refiner SK Energy.
South Korean officials also said the current troubles occurred near the Red Sea, waters that Gulf suppliers to Asia do not have to pass.
While importers said the Saudi attack itself was unlikely to disrupt supplies, the threat of spreading war in the region could impact oil flows.
Read More Stocks sell off as bad news turns bad
"It is becoming like a proxy war between Sunnis (in Saudi Arabia) and Shi'ites (in Iran) so it is a source of concern,"said Norihiro Fujito of Mitsubishi UFJ Morgan Stanley Securities.
"If a proxy war becomes a real war, the entire Middle East will be engulfed in a war, even though I do not think that is likely," he added.
While shipping routes to Asia are not immediately affected,shipping lanes to Europe could be.
Arab producers like Saudi Arabia, the United Arab Emirates,Kuwait and Iraq have to pass Yemen's coastlines via the tight Gulf of Aden in order to get through the Red Sea and Suez Canal to Europe.
The narrow waters between Yemen and Djibouti, at less than 40 kms (25 miles), are considered a "chokepoint" to global oil supplies by the U.S. Energy Information Administration and the region is heavily militarized by western navies.