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
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
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
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
President Donald Trump's public criticism of European allies may put the nation at risk, former Defense Secretary William Cohen told CNBC on Wednesday.
"Frankly, we can not defend the United States without allies," said Cohen, who ran the Defense Department under former President Bill Clinton. "We need friendships in a world of great danger."
Trump, speaking in Brussels on the first leg of his European trip, Wednesday on German support for one of Europe's most contentious energy developments, the Nord Stream 2 natural gas pipeline that would run directly from Russia to Germany under the Baltic Sea. Trump said Germany is “totally controlled” by Russia, claiming it would be too reliant on Russia for energy.
The president has also frequently lamented Germany’s trade surplus with the U.S., and has threatened to slap tariffs on German cars, which would strike at the heart of the country’s export-led economy.
Cohen, now chairman and CEO geopolitical consultancy The Cohen Group, said Trump "insulting and humiliating leaders of other countries" undermines long-standing U.S. relationships.
"We've had the most successful military alliance in the history of this world," said Cohen, a former Republican U.S. senator and congressman from Maine. "It seems to be the president is going out of his way to publicly undermine that."
"Don't treat your allies worse than your enemies," he added. "You're treating your enemies better than your allies."
In response to the berating from Trump, however, Germany's Defense minister said, “I think we can cope with it."
The White House did not respond to a request for comment.
— CNBC's Sam Meredith and Natasha Turak contributed to this report.