Ahead of next week's OPEC meeting in Vienna, strategists are closely watching swings in crude oil prices, which are faltering after weeks of gains. Despite political tensions involving oil superpower Saudi Arabia and OPEC's promises to cut production, crudeprices could come down by year-end, one strategist says. Here's why. • "Tensions in Saudi Arabia are still flaring following the actions by Crown Prince Mohammed bin Salman," Chantico Global CEO Gina Sanchez said Monday on CNBC's "Trading Nation," referring to a vast political shakeup in the kingdom earlier this month that initially boosted oil prices. • It is unlikely, however, that this will be an "actual geopolitical event," Sanchez said, and oil prices should continue settling. Click Read More below for additional information.

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Labor talks at U.S. ports on the East Coast and Gulf of Mexico are a looming risk for retailers, manufacturers and other shippers already grappling with longer transit times and higher costs. The International Longshoremen's Association contract covering 45,000 dockworkers at three dozen ports stretching from Maine to Texas expires on Sept. 30. If there is no deal by then, the union could call a strike that would hit during the vital holiday container shipping season and labor-friendly U.S. President Joe Biden's bid for reelection. The ILA on Monday called off this week's planned start of talks with the U.S. Maritime Alliance, citing one member of that employer group's use of automation technology in violation of prior agreements.