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
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
The subpoeana from Manhattan District Attorney's Cyrus Vance Jr.'s , for President Donald Trump's tax returns, was issued last month to Trump's accounting firm, Mazars.Politicsread more
While the UAW has rejected the offer and sent roughly 48,000 of its workers out on strike, the EV truck is widely expected to remain part of an eventual settlement.Autosread more
While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
The new chief of the Federal Aviation Administration says he plans to test out Boeing's software changes to the 737 Max in a simulator.Airlinesread more
Russian Energy Minister Alexander Novak has his focus on longer-term market factors rather than President Donald Trump's tweets, he said Thursday.
Asked about his reactions to the U.S. president's social media missives, which often target OPEC policies and are known to move markets without warning, Novak told CNBC's Hadley Gamble: "You know, we are looking at all the factors that one way or another effect the prices. But in particular for us, it's the balance between supply and demand."
"With regards to (Trump's) statement, we see that at the time of the statement the price goes up or down but after a while returns to where it was," he added in the exclusive interview.
"Therefore, in my view, these are not fundamental factors. Fundamental factors do not lie in words but actions."
His comments come shortly after the conclusion of the Joint Ministerial Monitoring Committee (JMMC) in Abu Dhabi, with OPEC allies agreeing to ask over-producing members to bring production back in line with their targets.
The full coalition of OPEC and non-OPEC partners — sometimes referred to as "OPEC+" — will next meet in Vienna in early December to decide whether any further action to stabilize oil markets is required for 2020.
The group has struggled to shore up oil prices this year, amid booming U.S. production and a slowing global economy.
It has called into question whether OPEC+ really wields that much influence over oil markets.
The group, which consists of some of the world's most powerful oil-producing nations, agreed to reduce output by 1.2 million barrels a day at the beginning of 2019. That deal replaced a previous round of production cuts that began in January 2017.
Some members, such as Iraq and Nigeria, have been producing above their quota in recent months.
Sitting alongside Iraq's oil minister, Thamer Ghadhban, at a press conference on Thursday, Russia's Novak stressed it was "extremely important" that all members signed up to the OPEC-led production cuts were fully compliant.
Ghadhban promised Iraq would introduce deeper cuts from October 1 "in order to reach full conformity."
Brent futures have tumbled more than 18% from a peak reached in April, with WTI down over 15% over the same period.