U.S. Economy
Strait of Hormuz standoff puts supply of America’s generic drug prescriptions at risk
An employee monitors bottles as they move along the drug production line inside the packaging unit at the Lupin Ltd. pharmaceutical plant in Salcette, Goa, India, Bloomberg | Bloomberg | Getty Images The closure of the Strait of Hormuz by Iran is a military strategy with vast consequences for the global economy, not just in […]
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UAE’s Fujairah oil trading hub targeted by a drone attack, causing large fire
A drone attack at the United Arab Emirates’ key oil trading hub of Fujairah triggered a large fire, authorities said on Monday, with no injuries reported. “Civil Defense teams in the Emirate immediately responded to the incident and are continuing their efforts to control it,” Fujairah Media Office said on social media, according to a […]
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U.S. and China economic chiefs meet in Paris to clear path to Trump-Xi summit
U.S. Treasury Secretary Scott Bessent gives a statement during the 56th annual World Economic Forum (WEF) meeting, at the USA House venue, in Davos, Switzerland, January 19, 2026. Denis Balibouse | Reuters Top U.S. and Chinese economic officials launched a new round of talks in Paris on Sunday to iron out kinks in their trade […]
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CNBC Daily Open: Oil markets: Nice try on the reserve release
A dark smoke cloud engulfs destroyed vehicles near an ongoing fire following an overnight airstrike on the Shahran oil refinery in northwestern Tehran on March 8, 2026. – | Afp | Getty Images Hello, this is Leonie Kidd writing to you from London. Welcome to another edition of CNBC’s Daily Open. While I am a […]
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Treasury yields gain after sticky February inflation reading, oil price increase
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell on March 5, 2026 in New York City. Angela Weiss | Afp | Getty Images Treasury yields moved higher on Wednesday as investors weighed a sticky February inflation report and monitored moves in oil prices in the midst […]
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Trump says U.S. will build first refinery in 50 years with investment by India’s Reliance Industries
U.S. President Donald Trump takes a question as he speaks during a press conference at Trump National Doral Miami in Miami, Florida, U.S., March 9, 2026. Kevin Lamarque | Reuters President Donald Trump announced Tuesday that the U.S. will get its first oil refinery in 50 years, funded by investments from Indian billionaire Mukesh Ambani’s […]
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As Iran war disrupts oil prices, consumers could be ‘hammered,’ economist says
In February, Americans were feeling pretty good about their financial standing. But that was before the Iran war, which is threatening to upend household budgets. A New York Federal Reserve survey released Monday found that consumers expected inflation to be lower in the year ahead, and households, overall, said they were better off than a year ago. The New York […]
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Treasury yields climb higher as investors monitor Iran war and soaring oil price
Signs display prices for gasoline at stations on March 2, 2026 in Chicago, Illinois. Scott Olson | Getty Images U.S. Treasury yields climbed higher on Monday as oil prices soared past $100 a barrel and increased inflation fears among investors. The benchmark 10-year Treasury yields rose more than 4 basis points to 4.175%, and the […]
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‘Sky is the limit’: Analysts warn oil prices could surge further
Women members of Iran’s Red Crescent society stand near smoke plumes from an ongoing fire following an overnight airstrike on the Shahran oil refinery in northwestern Tehran on March 8, 2026. – | Afp | Getty Images Analysts warned on Monday that there was no precedent for the surging price of oil, as the Middle […]
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The Tech Download: Data centers become military targets as Iran war rages on
This report is from this week’s The Tech Download newsletter. Like what you see? You can subscribe here. Banking, payments, enterprise and consumer services in the UAE experienced outages earlier this week as AWS (Amazon Web Services) data centers in the country were hit by Iranian drone strikes on Sunday. Many of the apps have since […]
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