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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

Five bodies were found in a Tennessee home in the town of Spring Hill Monday evening.Police found the bodies of what is believed to be a mother and her four children. The woman died of a self-inflicted gunshot wound.The other four were children, ranging in ages from approximately 7 to 16 years of age, who were also shot.Police say they were found by another older sibling who called police. 410

Fentanyl is now the most commonly used drug involved in drug overdoses, according to a new government report. The latest numbers from the US Centers for Disease Control and Prevention's National Center for Health Statistics say that the rate of drug overdoses involving the synthetic opioid skyrocketed by about 113% each year from 2013 through 2016.The number of total drug overdoses jumped 54% each year between 2011 and 2016. In 2016, there were 63,632 drug overdose deaths.According to Wednesday's report, which analyzed death certificates for drug overdose deaths between 2011 and 2016, fentanyl was involved in nearly 29% of all overdose deaths in 2016. In 2011, fentanyl was involved in just 4% of all drug fatalities. At the time, oxycodone was the most commonly involved drug, representing 13% of all fatal drug overdoses.From 2012 to 2015, heroin became the most frequently involved drug in overdose deaths. In 2011, the number of fatal heroin overdoses was 4,571, or 11% of all drug fatalities. In 2016, that number more than tripled to 15,961 deaths, representing a quarter of all drug overdoses that year.The authors of the new study also found that most overdoses involved more than one drug. In 2016, 2 in 5 cocaine-related overdose deaths also involved fentanyl. Nearly one-third of fentanyl-related overdoses also involved heroin. More than 20% of meth-related fatal overdoses also involved heroin. 1423

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 Trump campaign chairman Paul Manafort has entered a plea of not guilty to charges of bank fraud and tax crimes in federal court in Alexandria, Virginia.Judge TS Ellis set the trial to begin July 10.Prosecutors told said in court they planned to call 20-25 witnesses and the prosecutors' arguments could last up to two weeks.This will be the first of two trials for Manafort this year. A trial on federal charges in Washington, DC, is scheduled to begin in September.The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 577

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