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
Gold was bid higher after Secretary of State Rex Tillerson became the latest high-profile casualty of the Trump administration.
Tillerson, former ExxonMobil CEO, was respected in the markets and was seen as a steady hand but was previously reported as being ready to exit his role. President Donald Trump immediately replaced him with CIA Director Mike Pompeo. Deputy CIA Director Gina Haspel was named CIA director.
Gold futures for April were trading at $1,327, up about a half percent.
"Gold loves any turbulence, any uncertainty," said Kevin Grady, president of Phoenix Futures and Options.
Grady said gold was bid higher after the 8:30 a.m. ET release of CPI showed tame inflation, exactly in line with economists' consensus estimate of a 0.2 percent gain. The low reading on inflation is not likely to spur faster Fed rate hikes, and that also brought in buyers.
The Tillerson exit was also a plus for gold. "The news gives you support but I wouldn't say, 'I need to be long gold. Gold is going to explode because Tillerson is out,'" said Grady. "It's more uncertainty for the market. More uncertainty in general. I think a lot of these things keep a bid in gold."
Gold has tried unsuccessfully to break out. "The 100-day moving average is right around $1,307, and the 200-day is right around $1,297, so we've been holding right around these lows, and the market keeps selling off," he said. "But it's holding these levels because I think there's so much uncertainty in the market."
Grady said Tillerson's exit was viewed as a negative, but the fact that Trump has said he would talk to North Korea was seen as a positive development.