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 sector this year, spiked on 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
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 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
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
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread 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
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
Gulf@ (Adds details, legal gasoline exports rising, background)
DUBAI, Sept 7 (Reuters) - Iran's coast guard has seized a foreign tugboat suspected of smuggling fuel in the Gulf and detained its 12 Filipino crew members, state television reported on Saturday.
It said the tugboat was carrying nearly 284,000 litres of diesel. The report did not say what national flag the vessel was flying.
Iran, which has some of the world's cheapest fuel due to heavy state subsidies, has been fighting rampant fuel smuggling overland to neighbouring countries and by sea to Gulf Arab states. It has frequently seized boats it says are being used for smuggling fuel in the Gulf.
The incidents come at a time of tensions between Iran and the West in the Gulf that have been rising since the United States exited world powers' 2015 nuclear deal with Tehran last year and reimposed sanctions.
While Iranian media reports say an estimated 10 million litres of fuel are smuggled per day, Tehran has been promoting legal gasoline exports through its energy bourse.
Gasoline sales hit a record high of $72 million last week on the Iran Energy Exchange (IRENEX) for exports to neighbouring countries, according to state TV.
The stand-off between Iran and the United States triggered by Washington's withdrawal from the nuclear deal in May last year has stirred fears of a Gulf war with global repercussions.
In July, Iran seized a British oil tanker near the Strait of Hormuz for alleged marine violations, two weeks after British forces detained an Iranian tanker near Gibraltar accused of taking oil to Syria in violation of European Union sanctions.
The Iranian tanker was later released. Iran this week freed seven of the 23 crew members of the British-flagged tanker.
(Reporting by Dubai newsroom and Dahlia Nehme Editing by Mark Heinrich)