By 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.
Kurdish 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.
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.
Angry 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 ...