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 sector this year, spiked on 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
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 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
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
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
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
The Drone Racing League is keeping an eye out for "the greatest drone racer on earth," and they could be worth a lot of money, according to Drone Racing League CEO Nicholas Horbaczewski.
The DRL Allianz World Championship begins Tuesday on ESPN, with the prize money for the winner set at $100,000. Sixteen racers will travel around the world, flying their drones in an array of venues from NFL stadiums to abandoned malls.
The league also announced in a statement it will collaborate with the Amazon Prime Video series "The Grand Tour" for its 2017 championship. This mirrors the expanding industry of drone technology — according to a new study by PwC, the emerging market for business services using drones is valued at over $127 billion, affecting industries from agriculture to filmmaking.
"We are a small part of a multibillion-dollar growing drone industry," said Horbaczewski in an interview Monday on "Power Lunch." "What we find is, everybody these days either has a drone, they want a drone, they're learning how to fly them, and people are finding commercial and consumer applications for them. And we're just a piece of that. We're a great outlet, a good reason to go out and fly drones."
The drones are designed and built by the league, which is a sports and media company, and are crafted differently for every race. Each model is worth from $500 to $1000, and can travel from 80 to 90 miles an hour. In order to prevent racers from cheating, standardized equipment is used and the company "[doesn't] even let the participants touch the drones during the competition," according to Horbaczewski.
Pilots are scouted and recruited from amateur drone racing competitions. They can also try out through a video game, where their skills are evaluated virtually. Most participants are in their mid- to late twenties, which is the peak age for the sport, according to Horbaczewski.
"It's a combination of hand-eye coordination, very good depth perception and also the ability to stay calm under pressure," said Horbaczewski, when asked to describe the criteria for chosen pilots. "We actually find a lot of people come into this sport through things like motorcycle racing and car racing, because they've got the nerves for it."
— CNBC's Gino Siniscalchi contributed to this report.