Chinese officials will be in Washington on Wednesday to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread 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
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread 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
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
CEOs from energy companies gathered Monday in New York for the RBC Global Energy & Power Executive Conference. CNBC 's "Power Lunch" host, Brian Sullivan, sat down with some of the top executives to talk about the outlook for the oil and gas industries during the second half of the year.
David Dunlap, CEO of Superior Energy, said on Monday that he does not see the market getting better over the next few quarters, but there could be some stability.
"I think we are beginning to get close to a bottom from a cost standpoint," he said. "The market is not going to get a lot better in the next few quarters, but we'll see some overall signs of stability in activity and that's going to drive some stability in the labor force as well."
Superior is one of the main labor providers in the country with more than 14,000 employees and more than $4 billion in revenue.
"Now if oil prices go back up to $95 per barrel we'll be scrambling for people," he said. "But absent that, I think that from a labor standpoint, we're going to have over the next few quarters the labor that we need to satisfy market demand."
Dunlap predicts that WTI will be higher by the end of the year, around the $65 to $70 range.
Southwestern Energy's CEO, Steven Mueller, said he is optimistic about natural gas prices.
"There is a lot of hope for gas prices," he said. "The demand is increasing, unlike oil."
Mueller said that $4 gas is historically cheap but "we make a lot money at $4." By the end of the year he anticipates WTI in the mid-$60s and natural gas at $4 if it is a cold winter.
Gary Heminger is the CEO of Marathon Energy, one of the biggest gas station owners in the country. He is optimistic about consumer demand over the next couple of months.
"We've seen a very volatile market over the last six weeks," he said. "It looks like we are on the cusp of some very good demand numbers coming into the summer."
Heminger said that consumer savings from cheaper gas are still "sitting by the sidelines, waiting to be invested."
He sees WTI around $70 by the end of the year but there could be a dip to below $50 before then.
David Demshur, Core Labs CEO, said that the U.S. is probably peaking now in terms of oil production.
"Right now the U.S. is producing about 9.5 million barrels a day, but we're probably peaking right now," he said. "We expect that will fall below 9 million barrels a day, probably to 8.9 million barrels a day."
He said he expects to see a decline in the amount of oil that is being produced, starting from next month.