Oil dips after hitting $50/bbl as glut worries resurface

Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of MonagasBy Barani Krishnan NEW YORK (Reuters) - Oil prices hit $50 a barrel on Thursday for the first time in seven months, then bounced below that level and settled lower on the day as investors worried robust price gains could encourage more output and add to the global glut. Wildfires in Canada's oil sands, unrest in the Nigerian and Libyan energy sectors, and a near economic meltdown in OPEC member Venezuela have knocked out nearly 4 million barrels per day in immediate production, sparking a buying frenzy in crude futures. Brent and U.S. crude's West Texas Intermediate (WTI) futures have risen nearly 90 percent from 12-year lows hit this winter.



US-backed forces battle IS near Syria stronghold, Iraqi city

Iraqi government forces advance near al-Sejar village, northeast of Fallujah, on May 26, 2016Kurdish and Arab fighters aided by US soldiers battled the Islamic State group north of its Syrian stronghold of Raqa Thursday as Iraqi forces edged towards the jihadist-held city of Fallujah. The twin offensives are two of the most significant ground assaults against the extremists since they declared a self-styled "caliphate" straddling Iraq and Syria in 2014. The assaults came as Syria's UN envoy said trapped civilians risk starvation unless Damascus and rebel groups allow greater access to humanitarian aid convoys.



Lawmakers send Atlantic City rescue package to Christie

New Jersey lawmakers have sent Gov. Chris Christie a package of bills to keep Atlantic City from running out of cash, throwing the financially-strapped resort a life preserver just before the unofficial ...
Clinton says IG report won't affect her presidential bid

Democratic presidential candidate Hillary Clinton reacts while speaking at a rally at Hartnell College, Wednesday, May 25, 2016, in Salinas, Calif. (AP Photo/John Locher)WASHINGTON (AP) — Hillary Clinton contends a new government audit critical of her use of a private email server as secretary of state won't affect her Democratic presidential campaign.



GOP conservatives scuttle spending bill over gay rights

GOP conservatives scuttle spending bill over gay rightsAngry House conservatives voted down a routine spending bill Thursday in a fight over gay rights, underscoring the passions surrounding a social issue that is dividing the Republican Party and the nation ...





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