The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
Slack's public market debut on Thursday will generate billions for venture firm Accel and healthy returns for Andreessen Horowitz and Social CapitalTechnologyread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
* Royal Navy unit looking into tanker incident
* Brent rises by more than $2 a barrel
* WTI up by about 3% from previous close (Recasts, updates prices)
TOKYO, June 13 (Reuters) - Oil prices surged on Thursday after a unit of the United Kingdom's Royal Navy said it was aware of an incident involving a tanker in the Gulf of Oman near the Iranian coast.
Reports of a tanker on fire in the Gulf of Oman followed the earlier sabotage attacks on vessels near the Fujairah emirate, one of the world's largest bunkering hubs and located just outside the nearby Strait of Hormuz.
Brent crude futures were up $2, or 3.3%, at $61.97 a barrel by 0646 GMT.
U.S. West Texas Intermediate crude futures were up $1.41, or 2.7%, at $52.55 a barrel.
The United Kingdom Maritime Trade Operations, which is part of the UK Royal Navy, said on Thursday that it was aware of an incident in the Gulf of Oman, near the Iranian coast.
"UK and its partners are currently investigating," it said.
U.S. National Security Adviser John Bolton said on May 29 that naval mines "almost certainly from Iran" were used to attack the tankers off the United Arab Emirates last month, and warned Tehran against conducting new operations.
Tensions in the Middle East have escalated since U.S. President Donald Trump withdrew from a 2015 multinational nuclear pact with Iran and reimposed sanctions, notably targeting Tehran's key oil exports.
Iran says it will not be cowed by what it has called psychological warfare.
(Reporting by Aaron Sheldrick; Editing by Tom Hogue)