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An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
An extended Saudi oil outage could push Brent crude prices north of $75 per barrel, Goldman Sachs warned clients.Marketsread more
As investors worry about oil supply, airline and cruise ship stocks are getting hit on Monday, while some energy stocks are shooting upward.Marketsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.Oilread more
U.S. stock futures are under pressure Monday as oil prices spike after Saturday's coordinated strikes on key Saudi oil interests.Marketsread more
In the past few weeks, the S&P 500 has waged a 6% rally, pulling within 1% of its late-July record high by Friday's close.Trading Nationread more
The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.Autosread more
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.Energyread more
The U.S. transferred a total of $1.7 billion in cash to Iran in order to settle a long-running dispute over a failed 1979 arms deal, according to a report in the Wall Street Journal.
The WSJ said late Tuesday that U.S. President Barack Obama's administration sent $400 million in cash to Iran in January, with two more subsequent shipments of similar amounts, totaling another $1.3 billion, according to congressional officials briefed by the U.S. State, Treasury and Justice departments.
"The cash payments — made in Swiss francs, euros and other currencies— settled a decades-old dispute over a failed arms deal dating back to 1979," the WSJ reported.
It said that U.S. officials acknowledged that the payment of the first $400 million "coincided with Iran's release of American prisoners and was used as leverage to ensure they were flown out of Tehran's Mehrabad on the morning of January 17."
The newspaper noted that the "revelations come as Congress returns from a summer recess with Republicans vowing to pursue charges that the White House paid ransom to Tehran, a charge President Barack Obama has repeatedly rejected."