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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 WORTH, Texas — The Boeing 737 Max might be flying over the East Coast before year end.All Max jets around the world have been grounded since early 2019 after two deadly crashes.American Airlines says it plans to operate one Max flight a day from Dec. 29 through Jan. 4 between Miami and New York. American is still considering how much it will use the plane after that.The airline says it will begin selling the flights on Friday.Federal regulators are currently reviewing Boeing's changes to the plane. In all, 346 people died in crashes of Max jets in Indonesia and Ethiopia. 590

Former President George H.W. Bush will be eulogized by his son, former President George W. Bush, along with a mix of family and friends on Wednesday at the Washington National Cathedral, the most high-profile event in a week of proceedings that will remember the remarkable life of the president who died on Friday at 94.Along with his son, George H.W. Bush will be eulogized by former Canadian Prime Minister Brian Mulroney, whose time in power overlapped with Bush, former US Sen. Alan Simpson, who became a close friend to Bush, and presidential historian Jon Meacham, the late president's biographer.President Donald Trump will not speak at the funeral, sources with knowledge of the plans tell CNN, but has said that he will attend Wednesday's memorial. Despite the fact that Trump's rise to power included lambasting past presidents, including both Bushes, the President has responded to Bush's death with repeated laudatory comments.The plans for Bush's funeral were all put into place before Trump was ever elected, sources tell CNN. Presidents are traditionally asked to eulogize presidents who have died -- and in past state events like this, that has been the case -- but the Bush family is unlike any other and has another president in the family who will fill that role.Trump will pay a condolence call to the Bush family on Tuesday at Blair House, according to the sources, a government house across the street from the White House.Bush's passing has led to an outpouring of remembrances for the humble and gentlemanly statesman, whose life and service was seen to stand in direct contrast to the vitriol and partisanship that has enveloped elected politics in recent years. Many have also heralded Bush's 73-year marriage to his wife, Barbara Bush, who died months before her husband in April 2018.Those reflections will continue throughout the week, when Bush's casket travels from Houston, Bush's hometown, to Washington, DC to lie in state in the United States Capitol. Trump directed the presidential plane -- called Air Force One when the sitting President is aboard -- to pick up Bush's casket and transport it to Washington."We'll be spending three days of mourning and three days of celebrating a really great man's life," Trump said in Argentina where he was attending the G20 summit. "So, we look forward to doing that, and he certainly deserves it. He really does. He was a very special person."Bush will lie in state until Wednesday morning when his casket will then be transported to the National Cathedral for the first of two funeral services for the former president.Vice President Mike Pence will offer brief remarks Monday at the evening ceremony at the Capitol before the public can visit the president lying in state. It is anticipated that foreign leaders will also be paying condolence calls to the family on Tuesday.On Thursday, Bush's casket will travel back to Houston, where he will be memorialized at St. Martin's Episcopal Church and eulogized by his grandson, Texas Land Commissioner George P. Bush, and former Secretary of State James Baker, a man who has been by Bush's side since the former president's failed 1970 Senate campaign in Texas.Members of the family, including children and grandchildren, will be taking part in each service.Bush's Secret Service detail will be with him until he is interred and in the second vehicle in the motorcades that will lead to all the ceremonies.Bush's death has also led to a series of symbolic moments.Bush had come to be known in recent years for his colorful and symbolic use of socks, wearing different pairs to express his mood or mark occasions. Jim McGrath, Bush's spokesman, tweeted on Monday that the 41st President "will be carried to his final rest wearing socks that pay tribute to his lifetime of service, starting as an 18 year-old naval aviator in war."McGrath also tweeted a photo of Sully, Bush's service dog, laying in front of the late President's casket on Sunday night with the caption, "Mission Complete".Sully is named after former airline pilot Chesley B. "Sully" Sullenberger III, who became famous for landing a damaged passenger jet on the Hudson River and saving all 155 passengers and crew in 2009.Following the week of services, Bush will be laid to rest on his presidential library grounds at Texas A&M University, where his wife and Robin, his daughter who died of leukemia in 1953, are buried. 4425

Former NFL player Jonathon Martin has been taken into custody by Los Angeles police after appearing to post a threatening Instagram story that caused a school to go into lockdown."The individual we believe responsible for the social media post in question has been detained and our investigation is ongoing," the Los Angeles Police Department said in a statement to ESPN.On Friday, an Instagram account appearing to belong to Martin posted a story that included a photo of a long gun and ammunition. The photo included the caption "When you're a bully victim & a coward, your options are suicide, or revenge." The photo also included the hashtag #HarvardWestlake, an apparent reference to a Los Angeles high school and Martin's alma mater. Here is the image from Martin's Instagram Story that prompted the closure pic.twitter.com/dJ9tYww8SL— Matt Stone (@MattStoneABC) February 23, 2018 908

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