An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread 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
An extended Saudi oil outage could push Brent crude prices north of $75 per barrel, Goldman Sachs warned clients.Marketsread more
As investors worry about oil supply, airline and cruise ship stocks are getting hit on Monday, while some energy stocks are shooting upward.Marketsread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Justice Kavanaugh from when he was a Yale University student, noting that "the female student...Politicsread more
The U.S. faces less oil-shortage risk after weekend strikes on Saudi facilities because America has been aggressively developing its own domestic resources in recent years,...Oilread more
Purdue's board approved the much-anticipated bankruptcy filing, days after reaching a tentative deal to settle some 2,000 opioid lawsuits.Health and Scienceread more
Tesla's decision to move its sales completely online is a "leap of faith" that may not necessarily pay off, former Ford CEO Mark Fields suggested on Friday.
While the electric automaker has a "very sustainable brand," it has to figure out how to churn out cheaper Model 3s while trying to become profitable, he said on CNBC's "Closing Bell."
"It all comes down to the consumer, because without incentives, that is going to impact the business model," Fields said. "By eliminating their stores, are consumers going to want to buy a vehicle like they buy a Crock-Pot on Amazon?"
Last week, Tesla announced it is shifting its sales to online only. It will require the company to reduce headcount in sales and should help cut some operating expenses. In a blog post Tesla emphasized that shifting sales to online only would enable it to sell its Model 3 vehicles for the long-awaited base model price of $35,000.
The company has had to keep prices high enough to recoup its massive investments and turn a profit but at the same time keep them low enough to compete with the larger automakers. CEO Elon Musk once seemed confident Tesla would turn a profit in the first quarter of this year — but now he's predicting a loss.
The move to online sales is part of the automaker's strategy to bring down costs. However, customers are used to seeing and touching a vehicle, said Fields, who served as Ford's chief executive from 2014 to 2017.
"It is the second-biggest purchase that they make in their life, after their house, and will they want to do that just online, not physically seeing or test-driving the vehicle? That's a leap of faith."
— CNBC's Lora Kolodny and Robert Ferris contributed to this report.