Federal Reserve Chair Jerome Powell, in a wide-ranging talk at Harvard University, said Monday that he sees inflation expectations as grounded despite rising energy prices so the central bank doesn’t need to respond with higher interest rates. As his term leading the central bank nears an end, Powell avoided questions about the longer-term direction of…
In 1973, OPEC proclaimed an oil embargo on the U.S. for its decision to resupply the Israeli military during the Yom Kippur war. The embargo lasted until March 1974, and during this time oil prices quadrupled. To control supply, the federal government under Nixon rationed oil, by state, to 1972 levels. By February 1974, it…
Satellite view of Kharg Island, located in the Persian Gulf off the coast of Iran. Gallo Images | Gallo Images | Getty Images U.S. President Donald Trump said Monday that the U.S. will “completely” obliterate Iran’s electric generating plants, oil wells and Kharg Island if the strategically vital Strait of Hormuz is not “immediately” reopened…
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, on Monday, March 9, 2026. Michael Nagle | Bloomberg | Getty Images LONDON — European stocks rose on Monday morning despite investors grappling with a further escalation in the Iran war and fresh evidence of weaker economic sentiment. The…
An old Soviet-era Lada car drives past a truck belonging to a private Cuban company (mipyme) parked in front of a gas station with an IsoTank of imported fuel in Havana on March 19, 2026. Adalberto Roque | Afp | Getty Images A Russian oil tanker carrying a humanitarian shipment of 100,000 tons of crude…
A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. 2026 Planet Labs Pbc | Via Reuters Hello, this is Leonie Kidd writing to you from London. Welcome to another edition of CNBC’s Daily Open. Sometimes, two things can be true at the same time. But U.S. President Donald Trump’s declaration…
Managed future strategies are gaining renewed attention as investors look for new sources of returns from the market at a time when both stocks and bonds are under pressure as a result of the U.S.-Iran war and the risk of 1970s-style stagflation. These strategies, which are typically run by commodity trading advisors, use systematic models…
Smoke emanates from smokestacks from an oil refinery in Linden, New Jersey, on March 18, 2026. Kena Betancur | AFP | Getty Images Oil rose Monday as Yemen’s Houthis fired missiles at Israel and U.S. President Donald Trump reportedly wants to seize Iran’s oil, deepening concerns over escalating risks to Middle East energy flows. May…
Smoke rises from the direction of an energy installation in the Gulf emirate of Fujairah on March 14, 2026. Smoke could be seen rising from the direction of a major UAE energy installation on March 14, in what appeared to be the latest strike targeting the Gulf’s petroleum facilities hours after the US struck Iran’s…
The Tokyo Tower stands amid buildings at dusk in Tokyo, Japan. Bloomberg | Bloomberg | Getty Images South Korea stocks fell sharply Monday, leading declines in the region as the Middle East war entered its fifth week. The benchmark Kospi plunged over 5%, while the small-cap Kosdaq was 3.97% lower. Japan’s Nikkei 225 fell 3.97%,…
