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
A bipartisan deal from two senators to stabilize Obamacare by restoring subsidies to health insurers suffered major setbacks on Wednesday with the White House saying President Donald Trump now opposes it and senior Republicans speaking out against it.
House of Representatives Speaker Paul Ryan, Senate Finance Committee Chairman Orrin Hatch, Senate Republican leadership member John Thune and others expressed hostility to the deal announced on Tuesday by Republican Lamar Alexander and Democrat Patty Murray. It was uncertain if it would ever come to a vote in a Congress controlled by Trump's fellow Republicans.
The agreement would shore up Obamacare by reviving billions of dollars of federal subsidies to insurers for two years to help lower-income Americans obtain medical coverage.
Alexander said on Wednesday that Trump had "completely engineered" the bipartisan proposal, but the president backed away from support he had expressed a day earlier.
On Tuesday, Trump said the White House was involved in the negotiations and that the agreement was "a very good solution" for a short-term approach, but said on Wednesday he could "never support bailing out" insurance companies.
Trump has cut off subsidies to the companies, saying Congress has not provided money for them and that they enrich insurers.
White House spokeswoman Sarah Sanders said Trump did not support the deal in its current form, although she called it "a good step in the right direction."
"Look, we've said all along that we want something that doesn't just bail out the insurance companies but actually provides relief for all Americans," she said at a briefing. "And this bill doesn't address that fact."
The confusion among lawmakers in both parties over Trump's position on the healthcare deal and the lack of trust some of them have in the president come as Congress is entering a crucial period when important bills on federal spending, the U.S. debt limit and tax cuts are due for consideration.
Thune said the agreement might have "stalled out" and that its future was an "open question." Republicans have a 52-48 Senate majority, but other than Alexander only a few have publicly embraced the plan, including Senators John McCain, Susan Collins, Lisa Murkowski, Mike Rounds, and Bob Corker.
"No way to pay for it," Hatch said. "Oh my gosh, give me a break. I appreciate the innovation and the attempt to do it right. But it doesn't help."
Trump, who campaigned on a promise to get rid of Obamacare but has been frustrated by the failure of Republicans in Congress to pass legislation to do so, also made clear he wanted broader legislation to repeal and replace the law.
"Lamar Alexander's working on it very hard from our side. And if something can happen, that's fine," Trump told reporters at the White House. "But I won't do anything to enrich the insurance companies. ... They've been enriched by Obamacare like nothing anybody's ever seen before."
Insurers say they do not profit from the subsidies under the Affordable Care Act, former Democratic President Barack Obama's signature legislative achievement dubbed Obamacare, but pass them on directly to consumers to reduce deductibles, co-payments and other out-of-pocket medical expenses for low-income people.
Ending the subsidies, which are called cost-sharing reduction payments, could create chaos in the 2018 health insurance markets set up under Obamacare.
Some leading insurers, including UnitedHealth, Aetna, and Humana, have largely exited those markets, citing financial losses. Others including Anthem have significantly reduced their presence in the state-based markets.
Ryan gave no indication of willingness to consider the Alexander-Murray agreement. "The speaker does not see anything that changes his view that the Senate should keep its focus on repeal and replace of Obamacare," Ryan spokesman Doug Andres said.
The proposal drew broad Democratic support. Top Senate Democrat Chuck Schumer ripped Trump for his shifting stances on the Alexander-Murray deal.
"This president cannot govern if, whenever the hard right frightens him and says: 'Jump,' he says: "How high?'" Schumer told reporters.
"The president is pointing fingers," Schumer said. "He blames (Senate Majority Leader) Mitch McConnell for obstruction. He blames the Democrats for obstruction. He's the obstructionist in chief because he cannot stick to a position."
The proposal would meet some Democratic objectives, such as reviving subsidies for Obamacare and restoring $106 million in funding for a federal program that helps people enroll in insurance plans.
In exchange, Republicans would get more flexibility for states to offer a wider variety of health insurance plans while maintaining the requirement that sick and healthy people be charged the same rates for coverage.
Democratic attorneys general from 18 states and the District of Columbia who have filed a legal challenge to the subsidy cutoff asked a judge in California to direct the administration by Thursday to continue the payments. At a hearing on Wednesday, U.S. District Judge Vince Chhabria in San Francisco said he would likely rule on the states' request next week.
Murray, speaking to Reuters on Wednesday, said her agreement with Alexander was still very much alive.
"Absolutely," Murray said. "Lamar and I are working to have a good set of co-sponsors," and hope to formally introduce it as a Senate bill on Thursday.