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
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Passengers attempting to hail Uber cars during New York City's explosion on Saturday night hammered the ride sharing service for its pricing policies, accusing the company of gouging customers during a dangerous incident.
As news broke that a device had detonated in the city's Chelsea section, scared passengers attempted to use their Uber apps to hail a ride home—only to be hit with notifications that demand was "off the charts."
Furious users took to Twitter to vent their frustration, which was first reported by The Sun UK. Shortly after the blast, Uber announced on the social network that it had suspended its "surge pricing," a system that has been criticized in the past by some riders.
Still, some local users were still complaining about surge pricing well after the explosion's implications became clear.
Charging a premium at times when a potential client wants something badly, of course, is a function of basic supply and demand (otherwise known as Economics 101). As a number of Uber boosters note, surge pricing is more of an incentive for drivers to pick up passengers, as they tend to earn more during peak times than they would during normal hours. Most Uber drivers set their own schedule, and moonlight for extra money.
That said, the company has taken its lumps for surging during emergencies, most notably the 2014 hostage crisis in Sydney. At the time, Uber was ripped for surge pricing at a time when frightened would-be riders were attempting to flee a deadly standoff at a local cafe.
A couple of years ago, Uber struck an agreement with New York's attorney general to limit surge pricing during natural disasters and states of emergency. Although there was no formal declaration of emergency during Saturday's explosion, a spokesperson told CNBC that the company curbed its surge pricing nonetheless, because it was appropriate given the nature of the situation in Chelsea.