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
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread 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
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread 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
Oil prices dropped more than $1 a barrel on Wednesday as U.S. equity markets broadly fell, but losses were limited as U.S. sanctions restricted Iranian exports.
U.S. West Texas Intermediate (WTI) crude was down by $1.79, or 2.4 percent, at $73.17 a barrel, after rising nearly 1 percent in the previous session.
Brent crude futures were down $1.90, or 2.2 percent, at $83.10 a barrel by 2:29 p.m. ET, after a 1.3 percent gain on Tuesday.
U.S. stocks markets fell on Wednesday, weighing on oil prices. Crude futures at times track with equity markets.
"As long as we continue to see broad-based weakness in the equity sector, that's going to start spilling over into other areas as well. One in particular will be energy because it's all about economic expectations," said Brian LaRose, a technical analyst at United-ICAP.
Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the International Monetary Fund (IMF) said on Wednesday.
On Tuesday, the IMF cut its global economic growth forecasts for 2018 and 2019, raising concerns that demand for oil may also slump.
But concerns over global crude supply are keeping the oil market on edge and supporting prices.
Iran's crude exports fell further in the first week of October as buyers sought alternatives ahead of U.S. sanctions that take effect on Nov. 4, according to tanker data and an industry source.
Saudi Arabia, the world's biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday. India is Iran's top oil client after China.
Several of the world's biggest trading houses expect U.S. sanctions on Iran to keep oil prices high, with crude staying above $65 and possibly breaking above $100 in the medium term.
Jeremy Weir, chief executive of Trafigura, told an oil conference in London on Wednesday he would not be surprised to see oil trade over $100 next year.
In the U.S. Gulf of Mexico, nearly 40 percent of daily crude oil production was cut on Tuesday because of offshore platform evacuations and shut-ins ahead of Hurricane Michael.
Michael has strengthened into a "potentially catastrophic" Category 4 hurricane, according to an advisory from the U.S. National Hurricane Center.
Oil producers evacuated personnel from 75 platforms as the storm made its way through the central Gulf on the way to landfall on Wednesday in Florida.
Companies had turned off daily production of about 670,800 barrels of oil by midday on Tuesday, according to offshore regulator the Bureau of Safety and Environmental Enforcement.