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Friday brought another round of dramatic price cuts in the oil patch.US oil prices plummeted 7% and sank deeper into a bear market that has alarmed investors and made drivers around the world happy.The latest wave of selling knocked crude below a barrel for the first time since October 2017.Anxiety about oversupply and diminished demand have sent crude down by a third since it soared to a four-year high above a barrel in early October. Observers have gone from fearing 0 oil to expressing concern over why its price collapsed so quickly."The unrelenting six-week selloff has been unnerving to say the least," Michael Haigh, head of commodities research at Societe Generale, wrote to clients on Wednesday.Oil bulls are hoping OPEC and Russia come to the rescue by announcing steep production cuts at a meeting next month in Vienna. However, President Donald Trump is pressuring Saudi Arabia and OPEC not to reduce output despite the crash in prices. Traders are worried Trump's recent praise for Saudi Arabia signals the Saudis won't back a significant production cut.For the week, US oil prices are down nearly 10%.Lukman Otunuga, research analyst at FXTM, described the weekly selloff as "brutally bearish."Brent crude, the global benchmark, shed 5.5% on Friday and declined to a new 2018 low of a barrel.The meltdown was triggered by a series of developments that darkened the energy outlook. Prices soared over the summer as Trump vowed to zero out Iran's oil exports. That led Saudi Arabia, Russia and especially the United States to ramp up production. However, the Trump administration later took a softer approach on Iran sanctions to keep oil from spiking. Officials granted temporary waivers to China, India and other buyers of Iran's crude. That headfake left the oil market staring at a potential glut.At the same time, global growth fears emerged in financial markets. Economists are marking down their GDP forecasts for 2019. Germany and Japan, the world's No. 3 and 4 economies, are already in contraction. China is slowing, too. None of that is bullish for oil, which powers the world economy."Rising global crude supply coupled with worrying signs of slowing demand have written a recipe for disaster for the oil markets," Otunuga wrote to clients on Friday.The rapid collapse in oil prices caught many off guard, including hedge funds that made outsized bullish bets on crude earlier this year. Large commodity funds have accumulated losses in excess of .7 billion so far this quarter, Societe Generale estimates."Sentiment on commodity markets has been despondent," Haigh wrote.The energy slump came at just the right time for consumers though. Millions of Thanksgiving travelers were greeted by cheaper prices at the pump. The average gallon of gallon fetched .58 on Friday, down sharply from .84 a month ago, according to AAA. 2880

FORT MITCHELL, Ala. – A 5-year-old boy was struck and killed by a vehicle on a busy Alabama highway Sunday night after reportedly being forced out of a car as punishment.Russell County Sheriff Heath Taylor told WTVM that the boy, Austin Birdseye, was riding in the car with his mother’s boyfriend, 35-year-old Bryan Starr, when the child began “being unruly.”Taylor told CBS News that Starr had taken the boy on a drive that night to “calm him down” after he acted up at home.During the drive, Taylor says Starr pulled over, told Birdseye to get out of the vehicle and then lost sight of him in the rain. The boy ended up wandering onto Highway 165 in Fort Mitchell, where he was fatally hit, according to the sheriff.Starr was arrested on a murder charge, but he has since bonded out of jail, CBS reports. If convicted, he could reportedly face 20 years to life in prison.Taylor believes Starr made a horrible decision. He said he understands trying to discipline the child, but the way Starr did it was “mind-boggling.” He told CBS that it serves as a lesson to parents.“There's way to discipline your child, but we have to do it the right way and we can't do it in a way that's going to potentially bring harm," Taylor said.Starr is in the military, stationed at Fort Benning. In a statement obtained by WTVM, the U.S. Army post said it is deeply saddened by the tragic event and is cooperating with local law enforcement. 1433

Former Republican vice presidential nominee Sarah Palin admitted Friday that it hurt "a bit" to hear Sen. John McCain say he wished he picked Connecticut Sen. Joe Lieberman as his running mate in 2008."I don't lie, so I'll tell you -- a bit. You know, I think I described it earlier as a gut punch," Palin told NBC News in an interview Friday. "But again, I'm going to choose to look back on the good times that we did have together."In his forthcoming memoir, "The Restless Wave," and in a separate documentary, the Arizona Republican said he regrets not choosing Lieberman, a Democrat-turned-independent senator, calling it "another mistake that I made," The New York Times reported. Palin, the former Alaska GOP governor, was ultimately on the 2008 ticket with McCain.Palin's supporters have jumped on McCain's remarks and implied they mean he regrets choosing Palin as his running mate.Palin told NBC News that she hopes McCain, who is battling brain cancer, finds some "positive aspect in decisions that he's made in the past -- even about that campaign.""It is kind of sad to hear that he and or someone speaking for him does have regrets," Palin said. "And I hope that he finds that kind of peace and contentment also to be able to look back on decisions and realize, really, things work out the way that they're supposed to work out."She called McCain a "friend" and said she will "never disparage someone who has served our country and made a lot of sacrifices as a vet.""I always had a lot of respect for his maverick nature," Palin said. "He going rogue -- wish he would have been kind of going rogue more on the common-sense conservative side of some issues. No, I certainly have respect for many of the things that he's accomplished."Palin told The Daily Mail in an interview published Thursday that hearing McCain's admission that he regrets not choosing Lieberman is "like a perpetual gut-punch," but she attributes "a lot of what we're hearing and reading regarding McCain's statements to his ghostwriter or ghostwriters."The-CNN-Wire 2058

Former Presidents Barack Obama and Bill Clinton offered their well wishes on Friday as President Donald Trump was admitted into a DC-area hospital with the coronavirus.Meanwhile first lady Melania Trump was battling mild symptoms from the coronavirus.President Barack Obama tweeted, “Michelle and I hope that the President, First Lady, and all those affected by the coronavirus around the country are getting the care they need and are on the path to a speedy recovery. Obviously, we’re in the midst of a big political battle right now, and while there’s a lot at stake, let’s remember that we’re all Americans. We’re all human beings. And we want everyone to be healthy, no matter our party.”President Bill Clinton tweeted, “We wish the President and First Lady a speedy recovery, and hope for the safety of the White House staff, the Secret Service, and others putting their lives on the line. This pandemic has affected so many. We must continue to protect ourselves, our families, and communities.” 1010

For more than three hours, a passenger's dog was inside an overhead bin on United Airlines Flight 1284 from Houston to New York after a flight attendant told the passenger to put it there.Airline officials say it was a mistake. It turned out to be a deadly one.When the plane landed at LaGuardia Airport Monday night, the dog was deceased.In a statement, United called the dog's death a "tragic accident." Spokesman Charlie Hobart told CNN a flight attendant should not have told the passenger to put the dog in the bin used for carry-on bags."We assume full responsibility for this tragedy and express our deepest condolences to the family and are committed to supporting them," the airline said in reply Tuesday to CNN's request for comment about reports of the dog's death. "We are thoroughly investigating what occurred to prevent this from ever happening again." 875