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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

Florida lawmakers celebrated the passage of a school safety bill on Wednesday in response to last month's shooting in Parkland. But the bill left some with a new concern.Black and Hispanic Democrats joined civil rights groups in warning that part of the Marjory Stoneman Douglas High School Public Safety Act could have deadly unintended consequences for students of color.The provision establishes a voluntary "guardian" program that allows personnel who meet certain criteria to carry firearms in schools?.Democrats in the Republican-controlled House and Senate fought unsuccessfully to remove the controversial provision from the bill, also known as SB 2076. They argued that minority students -- who are often subject to disproportionate levels of punishment compared to their white counterparts and are more likely to be mistaken for perpetrators -- could become targets."My voice was never heard," lamented Miami-area Democratic Rep. Roy Hardemon. "No one heard our cry."Florida Gov. Rick Scott has been a vocal opponent of arming teachers. But he has not said definitively whether he would veto a bill that includes the provision.NAACP President and CEO Derrick Johnson called the idea of arming teachers "irresponsible." He said he hoped the governor would be more responsible than lawmakers who voted in favor of SB 2076."Our concern is not only black and brown students but all students who could be harmed," Johnson said.Fears of implicit bias 1462

For the first time in four years, footage of three endangered tigers in western Thailand was captured by conservationists. In a press release, global wild cat conservation organization Panthera said the images captured were part of a joint monitoring program between themselves, the Zoological Society of London, and Thailand's Department of National Parks, Wildlife and Plant Conservation.The animals captured on camera were three young Indochinese tigers. 465

FOSTER CITY, Calif. – The maker of remdesivir, a drug shown to shorten recovery time for severely ill COVID-19 patients, has released its pricing for the treatment.Gilead announced Monday that it will charge ,340 for a typical treatment course for people covered by government health programs in the United States and other “developed countries.”As for Americans with private insurance, they’ll be charged ,120, “because of the way the U.S. system is set up and the discounts that government healthcare programs expect,” Gilead said.Based on current treatment patterns, Gilead said the vast majority of patients are expected to receive a five-day treatment course using six vials of remdesivir. Individually, each vial will cost 0 for those covered by a government insurer, and 0 per vile for those with a private insurer.In poorer countries, with less health care resources, generic drugmakes will be allowed to make the drug and sell it for far less than in the U.S.The pricing has already come under fire, because the development of the drug was largely funded by taxpayer money.Gilead’s CEO, Daniel O’Day, wrote in an open letter that the company approached its pricing decision with the aim of helping as many patients as possible, as quickly as possible.“At the level we have priced remdesivir and with government programs in place, along with additional Gilead assistance as needed, we believe all patients will have access,” wrote O’Day.O’Day said Gilead has entered into an agreement with the U.S. Department of Health and Human Services (HHS) whereby HHS and states will continue to manage allocation to hospitals until the end of September. After this period, once supplies are less constrained, HHS will no longer manage allocation.The U.S. Food and Drug Administration (FDA) has actually not yet approved remdesivir for any use, but it has granted an Emergency Use Authorization (EUA) for the treatment of hospitalized patients with severe COVID-19.This treatment is much different than COVID-19 vaccines, which are still in development. Public health leader Dr. Anthony Fauci has said that the U.S. should have a "couple hundred million" doses of a coronavirus vaccine by the beginning of 2021. 2226

Former Trump campaign aide Sam Nunberg said Monday that he is refusing to comply with a grand jury subpoena in the Russia investigation led by special counsel Robert Mueller."Let him arrest me," Nunberg said in an interview with The Washington Post. "Mr. Mueller should understand I am not going in on Friday."The Post said Nunberg provided the paper with an apparent copy of a subpoena seeking documents related to President Donald Trump and nine others, and that Nunberg said he was asked to appear before the grand jury in Washington on Friday.The Trump campaign fired Nunberg in August 2015 after a series of racist Facebook posts came to light, and Nunberg indicated in interviews Monday there was still bad blood between the President and him but that he did not want to spend time cooperating with the investigation and Trump is right to call the probe a "witch hunt.""They want me to come in to a grand jury for them to insinuate that Roger Stone was colluding with Julian Assange," Nunberg said on MSNBC, referencing Stone, a controversial Trump ally, and Assange, the founder of WikiLeaks.He continued, "Roger was my mentor. Roger is like family to me. I'm not going to do it." 1210