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The crude oil crash just got worse.US oil prices plummeted nearly 7% on Tuesday to .43 a barrel. That marks the cheapest closing price since late October 2017.The latest deep selloff coincided with more mayhem on Wall Street. The Dow shed more than 600 points on Tuesday as fears about slowing earnings and economic growth deepen."In times of crises, all assets correlate," said Matt Smith, director of commodity research at ClipperData. "Crude has gotten caught up in the flight from equities."In the span of just seven weeks, crude has gone from spiking to nosediving into a bear market. Fears of a new supply glut and weakening demand have wiped out 30% of its value since hitting a four-year high of a barrel in early October.Crude has sold off by about 7% twice in the past week. The November 13 decline of 7.1% was the worst in three years.Beyond the stock market tumble, energy analysts saw few new reasons for the energy plunge."Oil traders are overwhelmed by bearish news," said Clay Seigle, managing director of oil at Genscape. "The broad selloff in equities has traders concerned about the possibility of an economic slowdown, which could reduce demand for oil products."One new development may have also helped weigh on oil prices. President Donald Trump signaled on Tuesday he won't punish Saudi Crown Prince Mohammed bin Salman for the death of Washington Post journalist Jamal Khashoggi."It could very well be that the Crown Prince had knowledge of this tragic event -- maybe he did and maybe he didn't!" Trump said in a statement. Energy traders may be interpreting the White House comments on US-Saudi ties as a sign that the kingdom won't aggressively cut oil production to support the market. Trump has repeatedly urged Saudi Arabia and OPEC not to do anything that will lift prices."If we broke with them I think your oil prices would go through the roof," Trump told reporters at the White House Tuesday.He also said he was "not going to destroy the economy of our country" over the murder of Saudi journalist and Washington Post contributor Jamal Khashoggi.OPEC is scheduled to meet next month in Vienna to weigh a potential output shift."You've got to think OPEC will be looking to make a sizable cut to try to reign in supplies and find a floor for prices here," said ClipperData's Smith.Not long ago, OPEC was under pressure to ramp up output in a bid to avoid 0 oil. Traders feared a supply shortage caused by the Trump administration's sanctions on Iran, the world's fifth biggest oil producer.However, the Trump administration took a softer approach on Iran than it initially signaled. Temporary waivers were granted to China, India and other buyers.By that point, Saudi Arabia, Russia and the United States had already ramped up output, leaving the market with a potential glut. US production has been especially strong, driven by the shale boom in the Permian Basin of West Texas. US output alone is expected to spike by 2.1 million barrels per day in 2018.At the same time, the global growth worries spooking Wall Street threatens to eat into demand. The International Energy Agency warned last week of "relatively weak" demand for oil in Europe and advanced Asian countries as well as a "slowdown" in India, Brazil and Argentina."The outlook for the global economy has deteriorated," the IEA wrote.The-CNN-Wire 3361
The Dallas Police Department said on Tuesday evening that two of its officers and a civilian loss prevention officer were shot at a Dallas Home Depot. The Dallas Police confirmed earlier in the evening that the two officer were in critical condition. Dallas Police Chief Renee Hall said late Tuesday evening that all three victims are out of surgery in a Dallas hospital. "We're asking for your continued prayers for them and their families," Hall said. The shooting reportedly took place around 4:11 p.m. local time. In a press conference, police identified Armando Juarez, 29, as a person of interest. He is believed to have left the incident driving a white pickup truck. Around 9 p.m. local time, Juarez was arrested after a car pursuit involving Dallas Police and a white pickup truck.Hall said that Juarez will be charged with multiple counts of aggravated assault on a police officer, and also had an outstanding warrant for his arrest. A female passenger in Juarez's truck was also detained after the chase, Hall said. In 2016, Dallas experienced one of the deadliest ambushes on law enforcement in recent US history, as five officers were shot and killed while patrolling a Black Lives Matter protest. 1285

The Camp Fire is just the latest fire tragedy in California. Residents are still rebuilding in Wine Country more than a year after the destructive wildfires there.In the one year since Kelly Bracewell's Santa Rosa home turned to ash, she's figured out how to be happier. She’s also learned how to live without some of her most cherished possessions.As she rebuilds her own home, she works to help others who lost everything."As an interior designer, it’s been a great distraction,” she says.She says she wants to help put the community back together.Another community member, artist Gregory Roberts, is also using his talents to help people heal.One artist is using the ashes to help the people who lost their homes heal.“I was standing in the studio during the fires, and ash was falling all around,” Roberts describes.Roberts was certain that he, too, would lose his home. Fortunately, his house and pottery studio survived, but the ash raining down over Wine Country gave him an idea.“I wanted to be able to give people back something to let them know that your memories are not actually lost; your memories are all still intact,” he says.Roberts started collecting ash from lost homes. Ashes from 140 homes appeared in a plastic bin on his front porch, some with handwritten notes, of people wanting him to create art from their lost homes."Something from their home, because this idea that everything is lost is a hard one to overcome," Roberts says.Roberts says the ash remnants of homes are different, so the patterns and colors are never the same."I really want each one to be sort of its own unique animal,” Roberts says. “In the same way that each person's home is unique." 1691
The contention around the 2020 presidential election is having some ripple effects, one of which is an effect on holiday shopping.Experts believe the delayed results are part of the reason there’s been a drop in holiday shopping, which retailers desperately need. So far, this year has been one of the toughest years for retail, especially brick and mortar stores.First, the pandemic forced closures and even as stores reopened, shoppers were initially hesitant to return to in-store shopping. Now, as holiday shopping starts to ramp up, the contentious presidential election has become a significant distraction for shoppers.“Consumers not knowing how to react have hit the pause button on their spending,” said Greg Portell, lead partner in the global consumer practice of Kearney.Portell believes without a clear winner in the presidential election and also acceptance of that victory, the holiday shopping season will not be what retailers needed.“The risk and uncertainty tied to civil unrest and the randomness of it at times, is really going to dampen consumers going into those locations,” said Portell. “That really takes the momentum out of what was a close recovery to what was traditional shopping patterns.”“Between the pandemic, the election,” said Mark Cohen, “it just doesn’t feel like we are going to have a jolly old Christmas.”Cohen, the Director of Retail Studies at the Columbia Business School, explained consumers need tranquility to spend and some excitement to spend the way they normally would for the holidays.“We’ve got a society of highly anxious, insecure, emotional, and battered consumers,” said Cohen, “None of that looks like it fits into any definition of tranquility.”However, some, like John Copeland with Adobe Analytics, caution against full doom and gloom around holiday shopping.“Typically, the day after an election, consumers slow their shopping a little bit,” said Copeland.Adobe Analytics data, gathered through its market-leading Adobe Analytics tool kit, shows in 2016 consumer spending dropped 14% after the election. After the 2018 midterms, it dropped 6%. So far, the day after this election, the drop was around 12%.However, those like Cohen and Portell expect, as the protests and legal battles over the election continue, even fewer people will want to spend money on shopping.If that starts to prove true, Copeland expects retailers will respond with new incentives for shoppers to start shopping at the “normal” holiday pace.“I think what we will see is retailers do more of what we already expect them to do which is pull their discounts and deals sooner into the season,” said Copeland. 2651
The Chardon (Ohio) Fire Department is investigating a school bus that was on fire overnight in the district's bus lot.Shortly after 5 a.m. on Thursday, an employee arrived at 355 Maple Avenue, where the bus lot is located, and noticed a bus had been burned in a fire. As a precaution, the fire department extinguished any hot spots. Authorities are still investigating the cause of the fire, but they said they believe it was set intentionally.A few other buses were parked nearby the burned bus, but they appeared unscathed. 575
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