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 two anti-establishment parties looking to clinch power in Italy will not take the country out of the euro zone and reject the single currency, the co-chief of asset management firm Standard Life Aberdeen told CNBC Wednesday.
The resurgence of the Five Star Movement (M5S) and Lega — two anti-establishment parties putting together the next Italian government — has raised concerns that the third largest euro zone economy could leave the bloc. Both parties have, at different occasions, mentioned plans to depart from the common currency pact, though M5S has softened its stance on the issue over time. Nonetheless, the coalition deal between M5S and Lega does not include any reference to officially leaving the 19-member area.
"Clearly the result in Italy has made people think about the anti-euro lobby," Martin Gilbert told CNBC's Joumanna Bercetche in Brussels, but added: "I don't think we are going to see any significant change."
"I don't think we are going to see a Brexit for instance … I don't think we are going to see anything of that magnitude."
The new power-sharing deal between Lega and M5S has lead various analysts to predict the future for the embattled euro nation that still has hefty public debt loads and sizeable non-performing loans in its banking sector. UBS strategists said in a note Tuesday that the question is whether this new coalition brings the European project under closer scrutiny.
"We believe this is unlikely given Italian leaders have already backpedalled from their most extreme positions," the analysts said.
The incoming coalition's intention to increase public spending and re-negotiate European fiscal rules could spark heated discussions with Brussels. The focus is now on President Sergio Mattarella, who needs to approve the names of the new cabinet. Mattarella is taking his time to sign off the choice for prime minister — private law professor Giuseppe Conte — and also the choice for finance minister, Paolo Savona — a euroskeptic economist. Expectations are that Mattarella will announce his decisions on Thursday.