Oil prices dropped about 6% on Tuesday after Saudi Arabia's energy minister said the kingdom has fully restored its oil production hit by an attack this weekend that shut 5% of global oil output.
The United States believes Saturday's attack on Saudi Arabia's oil facilities originated in southwestern Iran, a U.S. official told Reuters on Tuesday.
Saudi Arabia's oil supply is fully back online after weekend attacks halved output and the kingdom will achieve 11 million barrels per day (bpd) capacity by the end of September and 12 million bpd by the end of November, the energy minister said on Tuesday.
U.S. President Donald Trump said on Tuesday his administration could seal a deal on trade with China before the U.S. presidential election, or an agreement could be reached the day after U.S. voters go to the polls.
U.S. President Donald Trump said on Tuesday he did not think it would be necessary to release oil from the Strategic Petroleum Reserve after attacks on Saudi oil facilities, saying oil prices have not spiked very much.
U.S. President Donald Trump on Tuesday said he is not looking to meet Iranian President Hassan Rouhani during a United Nations event at the end of the month, as tensions between the two countries rise over U.S. accusations Iran was behind an attack on oil plants in Saudi Arabia.
WeWork owner The We Company postponed its initial public offering (IPO) after a lackluster response from investors to its plans, adding to a long list of high profile names that have failed to click as listed companies this year.
Saudi Aramco's Abqaiq processing plants have restored 2 million barrels per day (bpd) of capacity following attacks on Saturday, and they are expected to be back at normal capacity by the end of the month, a company source told Reuters on Tuesday.
The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters on Tuesday, giving an assessment that further increases tension in the Middle East.
Federal Aviation Administration chief Steve Dickson has invited about 50 aviation safety regulators from around the world to a Sept. 23 informal briefing in Montreal on the status of the grounded Boeing 737 MAX, according to an email seen by Reuters.
There will be no urgent OPEC meeting, the Saudi energy minister Prince Abdulaziz bin Salman said, Al Arabiya television reported on Tuesday after the weekend attacks on its facilities.
U.S. presidential hopeful Amy Klobuchar on Tuesday led a letter by U.S. senators that urged the Federal Trade Commission (FTC) to closely scrutinize pharma mergers, raising concerns about the potential harm to customers.
You may have to make some choices about the products you buy and your budget.
Saudi Arabia has shut down its crude oil pipeline to Bahrain after attacks on Saudi oil facilities, two trade sources told Reuters on Monday.
Oil prices surged nearly 20% at one point on Monday, with Brent crude posting its biggest intraday gain since the 1990-1991 Gulf crisis, after an attack on Saudi Arabian oil facilities at the weekend halved the kingdom's production.