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
Britain's economy will suffer as a result of the decision to leave the European Union despite signs in recent economic data that the impact has not been as severe as some predicted, Prime Minister Theresa May said on Sunday.
The June decision to leave the 28-country EU sent financial markets into shock in anticipation of a recession as Britain enters a years-long process of tearing itself away from its biggest trading partner and forging a new global economic role.
Sterling surged on Thursday after a stronger-than-expected survey of manufacturers offered the best signal yet that Britain's economy is performing better than many had initially feared.
Nevertheless, May predicted that the vote would damage the economy and said the government would continue to monitor economic data in the coming months before setting out its fiscal response to protect the economy later this year.
"There will be difficult times ahead," May told reporters on her way to a G-20 summit in Hangzhou, China.
"We've seen figures giving some different messages in relation to the economy at the moment. I think the reaction of the economy has been better than some had predicted post- the referendum, but I won't pretend it's going to be all plain sailing."
May was accompanied by Bank of England Governor Mark Carney, who launched a monetary stimulus package last month and forecast the economy would flatline for the rest of the year, and finance minister Philip Hammond, who has signaled a need for fiscal stimulus to protect growth.
Asked for her view on the need for a "fiscal reset" — a phrase used by Hammond on a separate trip to China in July - May said the government's response was not yet set in stone.
"We will be looking at this issue," she said. "We have to take all the data into account; by the time of the autumn statement there will be more data available. We'll have a better picture of what is happening."
No date has been set for the autumn budget statement, which May said would be when the government laid out its new fiscal position. Hammond is expected to loosen the grip of his predecessor George Osborne on the public purse by pushing back a target to run a budget surplus by 2020.