The economist thinks the Fed ought to pay more attention to financial markets when setting interest rates.The Fedread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
Talks between the world's two largest economies have stalled after each nation lobbied higher tariffs on the other's imports.Traderead more
A Chinese official in Hong Kong is urging the quick passage of legal measures to allow fugitives to be transferred to the mainland.China Politicsread more
GAC Motor said its delaying its launch in the U.S. but had no timeline when it could launch there.Autosread more
Shares in Asia were higher in Wednesday morning trade following a positive finish overnight on Wall Street, though trade tensions continued to linger between the U.S. and...Asia Marketsread more
See which stocks are posting big moves after the bell on Tuesday, May 21.Market Insiderread more
CBS plans to renew discussions for Starz with Lions Gate in the coming weeks, according to people familiar with the matter. If a deal happens, the remainder of Lions Gate...Technologyread more
The United States sees signs the Syrian government may be using chemical weapons, including an alleged chlorine attack on Sunday in northwest Syria, the State Department said...Defenseread more
* Two tankers damaged in attacks near Gulf
* U.S.-China trade tensions cap gains
* U.S. energy companies cut drilling rigs (Adds Chinese tariffs on U.S., updates prices)
LONDON, May 13 (Reuters) - Oil prices were lifted on Monday by growing concern over supply disruptions in the Middle East even as investors and traders fretted about global economic growth prospects amid a standoff in the Sino-U.S. trade talks.
Brent crude futures were at $72.43 a barrel by 1321 GMT, up $1.81.
U.S. West Texas Intermediate (WTI) futures were up $1.49 at $63.15.
Saudi Arabia on Monday said that two Saudi oil tankers were among vessels attacked off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of global crude supplies.
The UAE had said on Sunday that four commercial vessels were attacked near Fujairah, one of the world's largest bunkering hubs. The port lies near the Strait of Hormuz, one of the world's most important oil export waterways.
Iran's foreign ministry described the incidents as "worrisome and dreadful" and called for an investigation.
Saudi Arabia and the UAE are the largest and third-largest producers respectively in the Organization of the Petroleum Exporting Countries (OPEC).
"Reports on Sunday of explosions in Fujairah are likely to add further impetus to a potentially growing risk premium in the region, with initial reports suggesting oil tankers specifically were targeted in an apparent sabotage," said Vienna-based consultancy JBC Energy.
The government of Fujairah, one of the seven emirates that make up the UAE, in a tweet denied media reports about blasts inside Fujairah port and said the facility was operating normally.
Markets have been supported by Washington's efforts to cut Iran's oil exports to zero and reduce exports from Venezuela, where infrastructure problems have also cut output.
The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and world powers last year.
But the trade friction between Washington and China, which intensified last week, will keep a lid on prices.
China plans to impose tariffs on $60 billion worth of U.S. goods, the Chinese finance ministry said on Monday.
The United States and China together accounted for 34% of global oil consumption in the first quarter of 2019, data from the International Energy Agency showed.
The trade turmoil has prompted hedge funds to cut their bullish wagers on U.S. crude oil to the lowest level in a month and raised their bets on Brent crude to the highest in nearly seven months, U.S. government data showed on Friday.
Separately, in an early indicator of future output, U.S. energy companies last week reduced the number of oil rigs operating for the third time in four weeks, cutting them by two and bringing the count down to 805.
(Additional reporting by Colin Packham in Sydney and Aaron Sheldrick in Tokyo Editing by Jason Neely and David Goodman)