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 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 sectors this year, spiked 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
"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
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
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread 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
Sterling could soar as high as $1.50 if lawmakers agree a Brexit deal before the U.K. leaves the European Union, one strategist has told CNBC.
Speaking on CNBC's "Squawk Box Europe" on Thursday, Hans Redeker, global head of FX strategy at Morgan Stanley, said the British currency could be heavily influenced by the outcome of next month's European council meeting.
"You could see that there (will) be an agreement," he said. "Under those circumstances sterling would certainly rally, and it would be a rally which is going to catapult it against the U.S. dollar — maybe into the $1.40 and $1.50 handle."
The British pound plummeted below $1.20 last week, its lowest level since a flash crash in October 2016.
British Prime Minister Boris Johnson is due to meet with EU leaders at a crucial summit on October 17 and 18, where he is expected to renew negotiations for a deal before Britain's scheduled departure from the bloc on October 31.
However, Redeker told CNBC that Johnson securing a deal was "not yet" Morgan Stanley's base case, adding that the pound could still tumble further.
"Our view is that the pound has not yet bottomed, but on the medium or long-term horizon you may have to look into U.K.-based assets," he told CNBC. "The valuation is cheap for various reasons, not just for the foreign exchange — I expect there (will be) more money coming here and trying to invest."
On Wednesday, the Hong Kong stock exchange announced that it had offered $36.6 billion to take over the London Stock Exchange, a bid that Redeker said was unsurprising given the current value of the pound.
"When you look at that and say maybe the downside risk is down to $1.15, it actually means you have an asymmetry and that is where the long-term investor is coming in… there are more of those type of announcements coming," he speculated.
Sterling was trading at around $1.2336 on Thursday morning London time.