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
"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
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
The Justice Department filed a brief on Friday in a lawsuit against the Consumer Financial Protection Bureau, arguing that the consumer watchdog agency's structure is unconstitutional.
In the lawsuit, PHH argues that the CFPB's structure gives it too much power.
In its brief, the Justice Department argued that the president should be able to remove the CFPB director at will. Currently the head of the CFPB can only be removed in cases of "inefficiency, neglect of duty or malfeasance in office," as stated in the Dodd-Frank Act.
The CFPB declined to comment to CNBC.
The agency was a key component of Barack Obama's financial reforms and Wall Street regulations set in place in the wake of the financial crisis.
Because the CFPB's single director structure runs the risk of engaging in "extreme departures from the president's executive policy," the Justice Department argued. It claimed that an agency run by a single person is "unchecked by the constraints of group decision-making among members appointed by different presidents."
Supporters of the agency argue that its current structure protects the independence of the CFPB. Richard Cordray, director of the CFPB, told CNBC earlier this month that parrying attempts by the Donald Trump administration to remove him from his post is important.
"I think that the independence of a consumer watchdog is very much worth fighting for. It's really important work," Cordray said.