Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
The embattled German lender saw its share price hit a record low Monday, down nearly 5% since the start of the year.Banksread more
Lawmakers, lobbyists and CEOs in the U.S. are looking to trying to pick out the best parts of the EU's privacy law called GDPR – and ditch what they see as the worst.Technologyread more
Shares of Chinese telecommunications heavyweight Huawei's suppliers took a hit on Thursday afternoon amid the ongoing fallout surrounding the Chinese telecommunications giant.Asia Marketsread more
After holding parliamentary elections over seven phases, India started counting the votes on Thursday — and Prime Minister Narendra Modi's Bharatiya Janata Party-led coalition...Electionsread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
China accounted for 40% to 60% of the global increase in trichlorofluoromethane, or CFC-11, emissions between 2014 and 2017, a study found.Scienceread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Tech usage and addiction inspires a billion-dollar mindfulness industry. CNBC's Uptin Saiidi attempts three days without any digital gadgets.Technologyread more
* Saudi Energy minister alleges new attack
* Tensions in Middle East support prices
* U.S.-China trade talks appeared near collapse
* Positive statements from Washington, Beijing offer hope
* Graphic: OPEC production https://tmsnrt.rs/2VXGPMh (Updates prices, adds comment)
LONDON, May 14 (Reuters) - Oil prices rose on Tuesday after the world's top oil exporter Saudi Arabia said explosive-laden drones had attacked two pumping stations belonging to state oil company Aramco.
Brent crude futures were at $70.79 a barrel at 1035 GMT, up 56 cents or 0.80%.
U.S. West Texas Intermediate (WTI) crude futures were at $61.35 per barrel, up 31 cents or 0.51%.
The Saudi state news agency quoted Energy Minister Khalid al-Falih as saying that Aramco had halted pumping on the East-West pipeline until the damage was evaluated, but that production and exports were continuing without disruptions.
Falih said the attack was an "act of terrorism" that targeted the world's global oil supply.
Saudi Arabia said earlier that two of its oil tankers were among those attacked off the coast of the United Arab Emirates on Sunday, incidents which ratcheted up tensions in the world's top oil exporting region.
A U.S. official said Iran was the likely culprit, but Iranian officials denied responsibility for the incident.
A television station run by Yemen's Houthi group said on Tuesday the Iran-aligned movement had launched drone attacks on Saudi installations, without identifying the targets or time of the attacks.
Tehran has been embroiled in an escalating war of words with the United States over stricter U.S. sanctions, which have cut its oil exports and tightened global supply.
A fifth of global oil consumption passes through the Strait of Hormuz from Middle East crude producers to global markets.
The market was also holding out some hope for flagging U.S.-China trade talks as both sides expressed positive sentiments which may signal that the negotiations are not yet dead.
"The brinkmanship between Washington and Beijing is now seen as a significant hurdle to the growth in global oil demand. Meanwhile, rising geopolitical tensions in the Middle East will further promote volatility."
The negotiations between the United States and China appeared headed towards success last week but have largely unraveled over U.S. accusations that Beijing sought vast, last-minute changes.
China on Monday ignored a warning from U.S. President Donald Trump and moved to impose higher tariffs on a range of U.S. goods including frozen vegetables and liquefied natural gas.
But the Chinese government's top diplomat, State Councillor Wang Yi, indicated on Monday that Beijing hoped for a compromise: "Both countries' negotiating teams have the ability and wisdom to resolve each other's reasonable demands."
Trump on Monday said he expected to speak to Chinese President Xi Jinping at a G20 summit in late June and have "probably a very fruitful meeting."
"The U.S. president's comments likely tilted the balance in favor of the optimists, who continue to expect a rapprochement despite last week's major setback in trade negotiations," analyst Vandana Hari of Vanda Insights said.
(Editing by Dale Hudson and Jon Boyle)