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.
General Motors Co shifted health insurance costs for its striking workers to the United Auto Workers union as its members walked the picket line for the second day on Tuesday.
The White House is not involved in contract talks with General Motors Co and the United Auto Workers union, aimed at ending a nationwide strike that began late on Sunday, a White House spokesman and GM said.
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.
Saudi Arabia will restore its lost oil output of 5.7 million barrels per day (bpd) by the end of September and has managed to recover oil supplies to the levels they were at prior to weekend attacks on its facilities by drawing from oil inventories.
Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry.
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.
U.S. Vice President Mike Pence on Tuesday said he believed Congress would act to pass a new U.S.-Mexico-Canada free trade agreement this year, providing important momentum for the U.S. economy.
The We Company is delaying its initial public offering, as its likely valuation has declined from $47 billion to $10 billion, per news reports. Without growth, the WeWork business might be worth even less, Liam Proud says. But WeWork without an IPO may not last long, either.
The Saudis believe they can recover oil production within two to three weeks, sources close to the kingdom told Reuters, following a devastating weekend attack that knocked more than half of their production offline.
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